Here's The Problem I'm Still Seeing In The Oil Market
The oil market is a complicated beast. It's complicated precisely because we don't know what we don't know, and in the case of the impending Chinese oil demand, we have yet to see any concrete signs of buying from China.
That's the problem I see in the oil market today. We are now trading May physical barrels, and it does not appear that we have the surge in buying we wanted.
From a high-level storage perspective, this makes sense.
