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The WTI crude oil data will be released in 30 minutes at 4 GMT, 30 minutes after the natural gas storage data.
- Our view remain bearish over crude oil, as we have reiterated earlier, this view is extend to the natural gas as well.
- We are bullish on natural gas though, over long term, compared to crude oil. Our research on the share of different fuel substance over global energy consumption shows we had peak oil in the 1980s and economies are slowly shifting more towards renewable and natural gas.
- Today we look at the stock data in the US, which can be said literally sky rocketing.
- A large increase in the stock could be positive for Brent-WTI spread.
Regarding today's data we don't expect much volatility from the crude and do not expect the trend to reverse and affirms our negative outlook.
