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11min chapter
MacroVoices #415 Tian Yang: Fiscal, Sisyphus or Hercules
Macro Voices
Analyzing Recent EIA Inventory Data for Crude Oil
Eric and Tia discuss the recent EIA inventory data for crude oil, highlighting a massive build of 12 million barrels but also significant drawdowns on finished products. They examine the April Futures Contract chart and note that the sell-off on Wednesday indicates a potential retest of the lows, but Tia disagrees and believes the rally will continue based on the front-of-curve time spreads. She suggests that the smartest professional oil traders are not concerned by the inventory build and expects the rally to resume soon, especially if there is a daily close over $79.
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