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home / news releases / OILX - Oil Prices Turned Higher Despite Bearish Oil Storage Report


OILX - Oil Prices Turned Higher Despite Bearish Oil Storage Report

Welcome to the EIA edition of Oil Markets Daily!

Oil prices took today's bearish EIA oil storage report in strides. With prices staying above the breakout level of $41.20 and moving higher despite the initial downward move following the report.

Our takeaway from the report was that it was net bearish. The demand recovery has stalled as gasoline demand is plateauing, while higher COVID-19 cases in the US are tempering demand.

In recent weeks, we have started to publish a weekly storage report card for subscribers. Below is what we published today.

This week's report

Read more ...

Stock Information

Company Name: UBS AG London Branch ZC SP ETRACS REDEEM 22/02/2046 USD 25 - Ser B
Stock Symbol: OILX
Market: NYSE

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