Poor inventory stats didn't hit the oil price

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Oct 19, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
    Likes Received:
    Although company news is at a bit of a premium at the moment there is much going on with regard to the oil price, last week WTI declined by $2.37 and Brent $2.45 although it didnt feel that bad as the damage was done at the beginning of the week. Indeed the poor inventory stats didnt hit the oil price as much as maybe they should have. On Friday the rig count came in at -8 to 787 overall and down by 10 oil rigs to 595, the eighth straight down week and -63% y/y. Today the Chinese GDP number

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