This week on WTI.
Positive that the WTI will continue on the upside trend this week, based on 3 things I could garner
- Democrats seem to be extending the olive branch to Trump and asked for a meeting to discuss more stimulus. This was communicated by Trump via a tweet, and oil was observed to be picking up gains after.
- Comment from Saudi Aramco over the weekend that the demand for oil is picking up in Asia as measures of lockdowns are gradually eased.
- Easing of factory deflation in China, as reflected in the Producer Price Index (PPI) of China.
Now, if only the US China tensions would ease...then I foresee it'd be a clear run for the bulls.
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