Take physic, pomp

Charts of the day are….

….crude oil weekly candles and crude oil inventories:

Crude put in a jump recently on the back of a drop in inventories (aka lack of imports into the US) and, as noted on these pages very recently, is now threatening the $90/bbl mark.

But as this chart shows, those inventories shouldn’t be troubling you too much.

Yep, inventories dropped. But they’re still above the five year trailing average.

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