Crude Rebounds for the First Time in 5 Days
BonTradeWTI crude oil rebounded as the 4-day decline last week had brought price to as low as 72.45 on Friday. At current price level (73.9), WTI crude has erased the gains made on speculations of a prolonged closure of the Enbridge pipeline 6A and should price this week should be more reflective of macroeconomic and fundamental outlooks. Note that one of the aftermaths of the closure is that the inventory level of district PADD II (Midwest) will be affected.
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Crude Rebounds for the First Time in 5 Days
