Bullish Trend Supported By Rising Open Interest
Wednesday, commensurate with the EIA’s Weekly Petroleum Status release, the media reported the rise in crude oil price was attributed to the subtle increase in refinery capacity utilization, up 0.7% week on week. Today, the media is suggesting that a less than forecast reduction in employment numbers in the U.S. is the driver of price increases in crude oil.
Perhaps they’re both correct and this most likely is the bullish news prompting.....
