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DewDiligence

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DewDiligence

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Re: DewDiligence post# 9698

Wednesday, 04/15/2015 4:27:37 PM

Wednesday, April 15, 2015 4:27:37 PM

Post# of 29554
WTI benchmark hits $56.39, a 2015 high:

http://www.wsj.com/articles/oil-prices-rise-on-oil-demand-forecasts-1429090505

The rally gained steam after the EIA’s weekly inventory update. It showed U.S. production down 2% from the prior week, at less than 9.4 million barrels per day. U.S. producers had made gains for seven-straight weeks before starting to sputter at the end of March. And Wednesday’s news came a day after data showed oil production declined for a second-straight month in North Dakota, which has been at the heart of the country’s oil boom.

…The International Energy Agency also released key data Wednesday showing that worldwide demand has been absorbing some of the oversupply, which started the rally.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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