​WTI Holds Above $70 After Large Inventory Draws, Record US Production – Tyler Durden

WTI Holds Above $70 After Large Inventory Draws, Record US Production Oil prices continue to tread water, with WTI holding trading a very narrow band between $70 and $71 – unaffected by API’s reported draws last night – as traders weigh uncertain demand outlook with potential supply disruptions. Additionally, traders have “largely priced in the Middle East tensions,” and the base-case scenario for many of them is that there will be a limited attack on Iranian energy facilities, if any, from Israel, Naeem Aslam, chief investment officer at Zaye Capital Markets, told MarketWatch. However, “the fact is that we are looking at…  — Continue at ZeroHedge News : Read More