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Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
Welcome to the next edition of Oil Markets Daily!
US crude storage estimates in recent weeks have hit our estimates almost to the dot.
Source: HFI Research
Over the last 8-weeks, our average miss has been -0.03 mbbls which is to say we've basically been on the dot with EIA's figures.
We have consistently improved the process from nailing down incoming US refinery throughput by tracking down planned maintenance to using the leading indicator to figure out US crude oil production. So far, the results are speaking for themselves and we are happy with where