In the last two days, three reports have been released with current data and predictions for the oil market moving forward. Yesterday, the Oil Market Reports for July were released from both OPEC and IEA, as well as the crude oil storage report from API. This morning brought the Weekly Petroleum Status Report from EIA. This smorgasbord of data has left the price of oil reeling today, down 3.61%.

These reports come about as the oil market is in the most unpredictable position it has been in some time. Supply outages are creeping back online i...


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