BRU Chart Thread for Yatchy, page-119

Sorry, was guilty of slightly downramping last night, it’s much better than that Like I said previously, Brent would head back to test Jan high in US$ and smash the A$ Jan high










Phil Flynn: One option that OPEC and non-OPEC delegates discussed in Vienna on Monday is to continue measuring commercial oil inventories in developed economies against the five-year average, but without counting years of high stockpiles, the delegates said. Another option is to use a seven-year inventory average, they said. This would move their goal of reducing stockpiles to normal levels further from reach, potentially requiring a longer period of cuts to achieve it. Delegates also considered a period of more than seven years.  So, in other words OPEC and Non-OPEC may really drain inventories a lot more, raising the risk of a shortfall later this year.



Oil is breaking out with biggest 2-day gain since November amid surprise drop in US crude stockpiles
https://www.cnbc.com/2018/03/21/oil...2-days-after-drop-in-us-crude-stockpiles.html


Let’s Go Eric!