Hey Traders,
In the fast-paced world of energy markets, yesterday's rally in oil had us on the edge of our seats. The boost was fueled by promising US data and anticipations building up to the Fed's decision today. While the rates are expected to remain unchanged, the real excitement lies in the potential clues about future cuts that might be embedded in the wording.
But hold on – today, China stepped into the spotlight with less-than-encouraging economic data. It's a timely reminder that, in the vast landscape of global markets, economic shifts are just as impactful as geopolitical events. The baton is now passed back to economics, stepping away momentarily from the Middle East political stage.
And let's not forget the essential market indicators – the API inventory stats. The numbers are in, showing a 2.5 million barrel draw in crude. That's quite a twist compared to the whispers of a draw of 867,000 barrels. Gasoline decided to join the party with an addition of 600,000 barrels, but distillates took the spotlight by drawing a handy 2 million barrels.
Intrigued? We know we are! The dance of numbers and market dynamics is as thrilling as ever. Join me as I trade the futures market LIVE every morning!
Happy Trading,
Anthony Speciale
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