The chess game of economics
Wjom moved the right piece at the perfect time. Mean time Russian oil industry keeps its pipe into Rotterdam. Demand of market remains at top level , so where is the real impact of pricing? JR
U.S. crude futures extended declines on Wednesday after Saudi Arabia concluded its military campaign in Yemen, while industry data showed a larger-than-expected build in U.S. oil inventories. Figures released by the American Petroleum Institute yesterday showed that inventories rose by 5.5M barrels last week, higher than the 2.9M barrel build expected by analysts. "We will probably see one more dip in the second quarter but prices probably won't go below this year's lows," said Ian Taylor, head of the world's top oil trader, Vitol. The EIA will issue official U.S. stocks data at 10:30 a.m. EST. Crude futures -0.8% to $56.17/bbl. (Seeking Alpha)
