Energy Price Spike Won't Trigger Lasting Inflation, Analysts Say 
Strait of Hormuz: why even neutral and distant countries like Switzerland can’t escape the fallout 
Uranium Bull Market Gains Momentum Amid Supply Deficits and Geopolitical Tensions 
Why the future of marijuana legalization remains hazy despite high public support 
Strait of Hormuz blockade: the complex regional realities the US ignores at its peril 
This fuel crisis could last for a while. It’s time for a new approach to fuel use - end it 
Iran’s AI memes are reaching people who don’t follow the news – and winning the propaganda war 
Want to cut your energy bills? Here’s how five experts are doing it 
Google promotes ‘teacher approved’ apps for kids. Here’s what parents should know 
WTI is sharply down after clearing key support area around $43/barrel. WTI is currently trading at $42.3/barrel, up from today's low around $41.6/barrel ahead of EIA report, scheduled for 16:00 GMT.
Key factors at play in Crude market
- According to latest report, except for Permian region, in all other areas crude oil production is declining fast in US. However increased efficiency has prevented any large compared to sharper drop in rig count.
- Due to new and improved technologies, crude oil production cost has declined for shale producers.
- OPEC report showed, crude production dropped to 10.1 million barrels/day in Saudi Arabia but overall OPEC production is still high at 31.4 million barrels/day.
- Any cooperation is unlikely with Russia and Saudi Arabia fighting for market share in Europe.
- American Petroleum Institute's (API) weekly report showed inventory surplus by 6.3 million barrels.
- Oil price is down, however lack of investments in the sector make prices vulnerable to supply shocks in future.
Today's inventory report from US Energy Information Administration (EIA), to be released at 16:00 GMT.
Trade idea
- Increased rate hike expectation and strong Dollar from FED has tilted the balance of bulls & bears, in favor of the latter.
- WTI is now closing in onto lowest level since 2009, likely to drop towards $37-38/barrel area.
