Not participating in a big broad commodity rally is oil (USO, BNO) with a bearish IEA report...
Not participating in a big broad commodity rally is oil (USO, BNO) with a bearish IEA report offering traders an excuse to sell after a big move higher. The agency sees non-OPEC supply rising by 1.3M barrels/day in 2014, a growth rate achieved only once in the last 20 years. Drill baby, drill - the largest increase will come from the U.S., 530K barrels. Geopolitical and technical risk could dent this forecast by 500K barrels, says the group. WTI crude is off 0.6% to $105.87.
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