CRUDE SUMMARY: Oil market roils on lack of clear signals as trade and geopolitics cast shadow on bull sentiment

摘要

LONDON (ICIS)--Crude oil prices were on the downside on Thursday, still recoiling from another large, 4.7m bbl increase in US crude stocks. While investors continued to await a trend reversal in the build-up of OECD crude inventories – 40% of which are made up by the US, the EIA’s data has consistently trumped market expectations over the past few weeks. A stubbornly high US crude output, at about 12.2m bbl/day, is not helping to poke the bulls out of their temporary retreat.