Source post
CL1 $105.32 -0.1% | Brent $109.06 -0.2% so far today. Vs last week: CL1 +3.2% | Brent +1.5% USO +0.0% | BNO +0.0% What this means: Visible flows still look tight, so downside may struggle to extend unless the physical picture improves.
Follow-up context
See signals before the move ->
Visible flows still look tight, so downside may struggle to extend unless the physical picture improves.
More notes in the system
Wednesday EIA Check
Commercial US crude stocks are at 734.0 MMbbl (-9.3 w/w). SPR sits at 325.7 MMbbl, putting total crude stocks at 1059.7 MMbbl. Commercial: 734.0 MMbbl (-9.3 w/w) SPR: 325.7 MMbbl (-5.5 w/w) Know if the inventory move is real ->
Monday Setup
WTI M1-M2 is sitting at 0.28$/bbl with a +0.13 move over the last five sessions. WTI M1-M2: 0.28$/bbl 5-session move: +0.13 In plain terms: Prompt structure is positive but not extreme, so the balance read is constructive without screaming shortage. See signals before the move ->
Friday Wrap
CL1 $71.64 +4.9% | Brent $76.72 +7.2% across the main crude-linked proxies. USO +4.8% | BNO +4.1% XLE +3.0% | XOP +3.1% See signals before the move ->
