They took the oil and took it down, a stunning build and it turned straight down! When you count the barrels and the oil drilled, a landside brought it down!
A massive crude oil build rocked the oil market in what could be a major downside breakdown that is raising the stakes for OPEC and U.S. shale producers. Will it be cut back or face prices falling even further? Call it a landside if you will, as record long positions in oil ran for their lives and analysts like me are scratching their head to try to figure out how they did not see this historic and record breaking increase in weekly crude oil supply.
