Oil broke the $100 dollar mark again yesterday. This record took place with demand likely to fall and a weekly inventory report to probably show an increase in supply. This week the inventory report could be a lulu with crude oil, distillates and gasoline all rising. The chance of OPEC cutting production with prices this high is unrealistic to most sane traders. So why the four dollar spike? Money. Traders make money when there is movement. There is room to fall now so don’t be surprised if it does.
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James Sutliff