It turns out you actually can choose your relatives.
by Liam Denning, Bloomberg
Mine Web
It turns out you actually can choose your relatives.
Relative measurements, that is. (You’re stuck with that embarrassing uncle.) This matters a great deal in judging the path forward for oil prices.
On Wednesday, oil got an apparent reprieve from the failure of the Doha freeze talks and the fact that Kuwait’s helpful strike turned out to be more of a long weekend break. Crude oil futures turned a loss into a gain of almost 4% after the release of weekly data from the Energy Information Administration.
The EIA’s data had some helpful nuggets for oil bulls. Production continued to eke out declines and stocks of crude and refined products either built by less than expected or fell.