The EIA report yesterday showed a massive surplus. There was ZERO reason for the face-ripping oil rally yesterday. The oil surplus isn't going to work itself off in one day, that's silly. Yesterday was a RYFO short covering rally.
The EIA report yesterday showed a massive surplus. There was ZERO reason for the face-ripping oil rally yesterday. The oil surplus isn't going to work itself off in one day, that's silly. Yesterday was a RYFO short covering rally.
Can you point me to an explanation of this?