Of course, US crude stockpiles fell unexpectedly last week. And, don’t forget about that hurricane that won’t have any impact to our access to oil. Gotta love speculation.
Due to a resistance (technically speaking) at $125 a barrel, oil shouldn’t climb above $120-$125 a barrel and should steeply fall after the hurricane passes without any true impact to our supply. Sell high around $120 a barrel and buy back lower around $100-$110 (or less) a barrel.