MacroVoices #349 Rory Johnston: Crude Oil Outlook & SPR Discourse
Macro Voices
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Crude Oil Inventory - What's Happened in the Market Since the Feature Interview Was Recorded Tuesday?
This week's show is all about crude oil, so I'm just going to cover inventory and what's happened in the market since the feature interview was recorded Tuesday afternoon. US production ticked back up 200,000 barrels per day to 12.1 million barrels per day. The tape action on inventory was already a great big sell-off underway and that continued or perhaps even accelerated after inventory data came out. It's kind of curious that that happened on a big dollar down day as well. Normally oil and the dollar are inversely correlated.
Play episode from 02:07
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