. Inventories will keep draining down to facilitate current strong demand for US hot summer driving season amid US refiners are in planned maintenance because light crudes are sent to north African countries rather than in the US because of high costs
.US oilers will also face additional costs for the crude to be transported by cargoes.
"When the U.S. had the oil export ban in place, landlocked U.S. crude created a surplus of domestic oil that depressed prices artificially versus international prices."
. It's the first time I have seen USD is stabilized in respect of higher US CPI while oil is surging higher. A very bullish momentum.
