RE: Massive product build8 Dec 2020 23:45
At this time a build in the US is only to be expected because the Covid situation in the US is dire - demand for oil is falling.
However, most of the rest of the world is beginning to see through the crisis and demand is returning, especially in Asia.
Although the market seems to put so much emphasis on the US numbers, in this case they are an even more misleading indicator than normal.
My guess is that oil prices won't fall, what ever happens in the US, but Brent will continue to flatline at around $48-$49 over the winter.