Shrinking US Crude Reserves Might Confirm the Trend Now!

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ValueWalk

Oil prices rose again on Tuesday, approaching multi-year highs amid concerns over steadily shrinking US crude reserves. Q3 2021 hedge fund letters, conferences and more Fundamental AnalysisU.S. API Weekly Crude Oil Stock: Inventory levels of US crude oil, gasoline and distillates stocks, American Petroleum Institute (API) via Investing Regarding the API figures published Tuesday, the increase in crude inventories (with 2.318 million barrels versus 1.650 million barrels expected) implies weaker demand and is normally bearish for crude prices. However, we have a strongly bullish context, where t…

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