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Oil price remains quite weak

FXStreet (Łódź) - Independent Analyst Malcolm Graham-Wood points out in his blog that despite remaining at low levels, the price of crude oil has been showing attempts of forming a bit of a base, following the Fed monetary policy decision yesterday.

Key quotes

"The EIA stats mirrored those of the API, analysts were completely wrong getting both the sign and the size incorrect, the build was 3.7m barrels vs a guess of a draw of 1.6m barrels."

"Nobody has told the little darlings that refinery runs decline in September, Wall Street banks employing them should insist they read the blog before forecasting stuff they don’t know!"

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