The private survey of oil stocks is out, and its a monster draw:
- Oil: Private survey of inventory shows a much larger headline crude oil draw than expected
The official government data is due tomorrow morning out of the US.
Oil has been well supported:
Analysts at Standard Chartered have a US$90 target, and beyond, in sight:
- From a fundamental viewpoint, we still think the rally can be sustained well past USD 90/bbl given our projected Q3 and Q4 global oil balances
This article was written by Eamonn Sheridan at www.forexlive.com.
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