Oil prices continue their gradual ascent, driven recently by significant inventory draws if the data presented by the EIA (Energy Information Administration) is correct. In its latest report, the organization estimated that total crude and petroleum product stocks fell significantly over the course of only one week. While a decline of this nature is great in and of itself for oil bulls, it’s only when put in context against other data that it becomes clear just how bullish the current oil environment is.
A look at some select data
Before we dive into some