non renewable resource, page-4

Second week in a row we get bullish oil data from the US

http://www.financialpost.com/news-sectors/story.html?id=1352292

Part quote -

"Overall the numbers are very bullish ... again, gasoline remains the one bright spot in the market that can really pull the complex higher," Chris Jarvis of Caprock Risk Management said. "Couple that with the composite of economic news out of China overnight and this is really setting the stage for the energy complex ... to move higher if the equities market can maintain themselves..."

Weekly U.S. inventory data showed stocks of crude oil in the world's top consumer declined by 700,000 barrels versus expectations of a 1.2 million barrel build. Demand for gasoline over the past four weeks was up 2.2% from a year ago.

end quote

For the oil market the bottom may be over.