Monday, October 10, 2016

Oil term structure bullish for oil prices

WTI CRUDE OIL: The Trend Line’s Been Broken and The Term Structure’s Bullish: 

Supply has never been a problem; there is plenty of… indeed an increasing supply of… crude; the problem is with demand. But the contangos are narrowing and the trend line’s been broken and any correction over the next week or two back to this trend line is to be bought.