MacroVoices #374 Chris Whalen: Are More Banks Going To Fail?
Macro Voices
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The EIA Inventory Drawdown on Crude Oil
EIA printed a drawdown of 1.3 million barrels on crude oil inventory, but that was really a 3.3 million barrel drawdown after you consider that they pilfered another 2 million barrels out of the strategic petroleum reserve. The next major support below that would be at 59 spot 4594 0. That's the 100 month moving average. So far we haven't seen any print higher than 12.3 post the COVID pandemic. Let's see if we can get there next week.
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