Oil Markets Could Get Very Ugly, Very Quickly

As WTI Crude tests new lows this morning (Dec contract $45.32) after API reported a huge build…Brent resumes downward trend, briefly dips below $48 to lowest level in over 2-weeks. WTI extends drop toward $45 after API reports larger 7m bbl increase in U.S. crude inventories.“API showed another huge build in crude stock yesterday — now markets are awaiting today’s official EIA report for confirmation of the trend,” says Global Risk Management oil risk manager Michael Poulsen.Related: Day Of Reckoning For U.S. Shale Will…

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Oil Markets Could Get Very Ugly, Very Quickly

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