WTI crude oil rallied back this morning after the EIA weekly inventory report @ 11a.m. nearly $2 in 45 minutes.
West Texas Intermediate crude climbed from a four-week low and the dollar tumbled against the euro as worse-than-expected economic data spurred speculation that the Federal Reserve would maintain stimulus measures. read
ITZ has been highlighting a possible complex Inverted H&S right shoulder setting up link
A famous oil trader is warning the shale revolution will only "temporarily" boost oil production while prices will remain high. David Greenberg, Greenberg Capital president and founder, disagrees and explains why he believes the United States will "get this right" and find cheaper ways to extract the oil.