It seems the bulls have the upper hand again, the reason this time being one more attack in one of shell pipeline in nigeria.
To me they are starting to running out of reasons to push the prices up, not just because demand still did not pick up, plus the fact of global trade, even is showing signs of stabilising, is still colapsed.
In my humble opinion the latest "green shoots" have been no more then a re-stocking of inventories which logically would manifest it self by a increase on demand for commodities , including oil. Now the problem is where is the demand for this new stock?
That is the next factor which will determine if we have legs for the next push up .
