Crude Carnage Continues: WTI Hits $42 Handle On Inventories, Dollar
by Tyler Durden
ZeroHedge.com
Jul 26, 2016
With WTI now down over 17% from its mid-June highs, and energy stocks just beginning to wake up to the 2015-analog collapse, fears are rising that once again low oil prices are not ‘unequivocally good’ for stocks or the economy. Between record speculative long positioning in futures, the fundamental strength of the dollar and surge in gasoline inventories remain the big overhangs (along with rising storage levels at Cushing as demand begins to fade seasonally).
The Rest…HERE
