OIL

Oil has had quite a run, numerous reports intended on running the price up influenced the trading. I am not sure we can trust those reports, loads of tankers have been used as storage at sea so we need to question whether that is included in the reports. It`s been done before. Oil trading has been very volatile so be careful one way or the other. Short term it may have a slight upward pressure but remember those numbers on reports can change quickly. Shale companies stated they would begin operating again at $ 40.00 so figure that. The likely hood of prices dropping below $ 40.00 are probable till it is apparent that the glut is over. Many of the oil exporting countries need the cash so you know they will keep pumping. This is where the world stands for the moment.