Gold Silver Reports (GSR) — WTI Algos Confused Despite Surprise Crude – Senior Energy Analyst Vince Piazza notes that a generous dollop of bad news is good news for the crude market. U.S. sanctions on Iran, Venezuela’s deteriorating economy and other potential geopolitical disruptions will limit supply.
On the other hand, the trade spat between Washington and Beijing could slow economic growth and reduce demand, which joins robust domestic production and U.S. refinery maintenance season in providing ammunition for a more skeptical view on oil prices.
