Rate Of Return$Pro Ultrshrt Crude Oil(SCO.US)• Commercial crude oil inventories increased more than expected (+3.081 million barrels): This is the most direct bearish indicator in the report. An inventory increase means supply temporarily exceeded demand (or refinery throughput was insufficient), putting direct spot pressure on oil prices.
• Strategic Petroleum Reserve (SPR) inventory decreased (-1.739 million barrels):
This is a key hidden bearish factor. Normally, an SPR increase means the government is buying, which is bullish; while an SPR decrease means the government is releasing crude oil to the market, which indirectly increases market supply.
WTI crude oil faced two major bearish factors, yet the price rebounded from $93 to $96, I don't get it 😂
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