Tuesday 23 May 2017
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3 months ago

Wall Street is pouring money into oil and gas

Despite the near record increase in U.S. oil inventories last week an increase of 13.8 million barrels oil prices traded up on February 8 and 9 as traders pinned their hopes on a surprise drawdown in gasoline stocks, which provided some evidence of stronger-than-expected demand.The abnormal crude stock increase took inventories close to 80-year record levels at 508 million barrels, and is another bit of damming evidence that should worry oil bulls. But the oil markets were not deterred. In fac

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