Just changing the subject I find it quite extraordinary that if, for example, the Bakers Hughes rig count were to go up by just one then that would have a lasting downward pressure effect on the POO, Conversely put some missiles into an oil processing facility of a major producer, which nearly knocks it out, and we get a significant spike for three days, then the nothing to see here and the the POO falls below the price at the time of the strike. Go figure.
Just the tension alone should have seen oil remain above $60.00 but no all is well in the Middle East. Remarkable!
Cheers
BW
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