With the freefall in check, oil prices have given the appearance of stability. However, new lows for the move continue to be made, and the API reported a massive build in US crude oil inventories of over 10 million barrels for the week. The term structure of the oil futures curve is encouraging storage plays around the world, and in the US. The amount of crude oil is near its highest in history in the US, going back to the 1930s, as best we can tell.
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