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Following a brief dip on what looked like bearish data from the EIA, crude oil futures rocket...

Following a brief dip on what looked like bearish data from the EIA, crude oil futures rocket higher by about 2%. While crude inventories rose, a sharp drop in product inventories and renewed violence in Yemen could be sending prices higher.
Comments (2)
  • kmi
    , contributor
    Comments (3984) | Send Message
     
    Yemen? Really? What do they produce like 100,000bpd?

     

    There's gotta be something else...

     

    And product inventories have been going down for a while even as crude has been increasing.... soooo....

     

    Am I missing something?
    27 Apr 2011, 01:14 PM Reply Like
  • kmi
    , contributor
    Comments (3984) | Send Message
     
    I got it now, it's a result of continuing QE, and a dovish Fed, there we go, spike explained.
    27 Apr 2011, 01:20 PM Reply Like
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