The market set itself up to rally on the US petroleum statistics last week by having bearishly forecast across-the-board stockbuilds yet again, said French investment bank SG in a report last week. As a result, oil prices were sent soaring when DOE and API figures showed commercial crude oil stocks drawing down by 150% to…
MARKETS: SG says US oil data is bullish from “unexpected draws” in crude and products
Posted on July 19, 2004 by EnergyAsia