Deciphering Today’s Oil Markets

By Osama Rizvi The EIA reported a crude build of 8.2 million last week, the 9th consecutive weekly inventory rise, with oil prices later plunging 5.3 percent. The sudden drop in oil prices was the first time oil had broken out of its narrow trading range in several months. Since then, bearish sentiment has gripped the markets, with oil prices tumbling at the start of this week. Despite the downward trend, uncertainty over the future of oil prices remains, with analysts strongly disagreeing on the central factor in today’s oil markets. To make sense of today’s…

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