Oil inventories are still close to all time highs in major worldwide hubs

Despite recovering demand, oil inventories are still close to all time highs in major worldwide hubs

Source: Fujairah Energy Data Commitee

Source:Petroleum Association of Japan

Source: Reuters

Source: Reuters

 

#Covid-19 might not be as bad as you think for oil demand

‘Back to life’ will probably mean social distancing for a while. A new normal where people do old things in different ways. In China one of the most important change is that people are switching from public transport (bus, metro) to private cars and the reason is that the risk of infection.

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This is what happened in China during the SARS travel lockdown which was in place for all of 2003 and 2004.

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History doesn’t repeat itself but it often rhymes.

#WTI twitter sentiment 1-13-2020 Positive tweets percentage: 36.36363636363637 % Negative tweets percentage: 52.27272727272727 % #usoil #oott #cl

Positive tweets:

RT @oil_trades: I am placing an offer to sell half at 59.60

Remember the stop for the whole position is at entry (58.76)

crudeoil #CL #c…

I am placing an offer to sell half at 59.60

Remember the stop for the whole position is at entry (58.76)… https://t.co/TYXZArbMrk
Last trade stopped at entry. No loss. That’s it for today. No active trades or holds overthe weekend.… https://t.co/sAwCeJXa8V
“first preferred buy trigger 58.83”

Hit 58.84 (a tick off) as LOD so far and bounced to 59.36, we’ll see if bulls… https://t.co/nvl7i0ARAP
RT @EPICtheAlgo: For January 9, 2020 Profit & Loss Daily +$519 YTD +$43,503. Projected $85,369 or 85% Per Annum. EPIC v3 Oil Machine Trade…
For January 9, 2020 Profit & Loss Daily +$519 YTD +$43,503. Projected $85,369 or 85% PerAnnum. EPIC v3 Oil Machine… https://t.co/pYypGuxnkY
RT @NicholasBlack_: Almost completely sure we see 58.00-57.60 area in cl today. Magnet EP isthere for a while now, and breakdown/validated…
Almost completely sure we see 58.00-57.60 area in cl today. Magnet EP is there for a while now, and breakdown/valid… https://t.co/5uWYV7Fw9I
Just a quick reminder for everyone. Don’t be a sheep.

Negative tweets:
Oil markets have learned to shrug off the worst Middle East crises in years — here’s how https://t.co/p6p4RyS8Ye vi… https://t.co/Z2gNocMFhb
RT @oil_trades: Moving stop to entry (58.76) for a risk free trade

crudeoil #CL #crude #CL_F $Cl_F #Oil $oil $USOIL #trading #daytrading…

RT @oil_trades: LONG 58.76
stop 58.15
MANUAL

crudeoil #CL #crude #CL_F $Cl_F #Oil $oil $USOIL #trading #daytrading #daytrader #tradingale…

Moving stop to entry (58.76) for a risk free trade

crudeoil #CL #crude #CL_F $Cl_F #Oil $oil $USOIL #trading… https://t.co/Asa0YSnVmj

LONG 58.76
stop 58.15
MANUAL

crudeoil #CL #crude #CL_F $Cl_F #Oil $oil $USOIL #trading #daytrading #daytrader… https://t.co/ikIbFpElUE

Moving stop to entry now (59.06). Risk free now.

crudeoil #CL #crude #CL_F $Cl_F #Oil $oil $USOIL #trading… https://t.co/2CBumAHwzr

A break of 2.350ish and stall could mean a massively bullish year for NG, at least as a projection. Magnet ML would… https://t.co/oip6UAAN1X
LONG 59.06
stop 58.50
MANUAL

crudeoil #CL #crude #CL_F $Cl_F #Oil $oil $USOIL #trading #daytrading #daytrader… https://t.co/y8t6bdgm1m

Insanely bearish consolidation, tracking LL/LH channel. Failed pullback frame, projecting low 58. That’s just small… https://t.co/9PEjrvc4bh
NG breaking out. Called the mid-term bottom to a cent. Stop at cost for my 2.110 long. Target remains the same. Pat… https://t.co/kmpqC0JKHY
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