oiltrader

The Oil Scam Driving Crude Over $80

Mr Know It All,
Had you bothered to check historical data(even for the last one year) you would have found that oil prices dont really move according to weekly DOE and API figures. In fact, there have been many weeks in which prices fall on thursday and friday even though the data showed drawdowns. A bigger factor at play here is the dollar depreciation. Anytime the dollar weakens for an extended period of time, crude oil shoots up.

Please get yourself a bloomberg terminal and do some regression testing before making a mountain of a 4-week old linkage between inventory data and oil prices.

In the meantime, do us a favor and stop writing.