In fact, oil to $25 is a rather distinct PROBABILITY at this point. Anyone care to comment on today's inventory numbers with a dash of macroeconomic conditions thrown in for good measure? Thanks.
China's YEAR OVER YEAR 6.8% GDP report for the last quarter is "bogus" and not at all accurate for where they currently are. Roubini points out a lot of statistical error in reporting a "year over year" number like that and says that they are more likely to be at ZERO or even NEGATIVE GDP right now. A +6.1 build in Crude today was a WHOPPER! They were only expecting +1.9 Same thing with Gasoline, but Gasoline also came in at +6.5 Wow! Wow!!! :eek:
Refinery Utilization rate came in -1.9% from previous week. http://www.eia.doe.gov/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/wpsr.html