Strategic Oil Reserve Release a Yawner (Crude Already Breaking Down)

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30 Million Barrels – A Drop In The Bucket by Carl Swenlin Last week the administration released 30 million barrels of crude from the nation’s strategic reserve. This represents about a day-and-a-half of our current usage, so it is really just a drop in the bucket and not likely to have a significant effect on […]

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Thanks to good friend and fellow deflationist Carson for sending along the latest CPI numbers, which were released this morning. Inflation?  Where? On a seasonally adjusted basis, the Consumer Price Index for All Urban Consumers (CPI-U) declined 0.1 percent in April, the U.S. Bureau of Labor Statistics reported today. Take away food and energy, and the deflation […]

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Fellow contrarians know that we’ve been watching the crude oil market for a sign of where this rally may be heading. Right now, crude looks absolutely gassed.  It dropped below it’s 200 day moving average last week (yes, the 200-day MA that we love to watch) – and has just managed to bounce up a […]

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