Market Currents: Five things to consider in the oil market today

Thirty-eight years after ‘The Buddy Holly Story’ had its world premiere, and everyday, its a getting closer ($50 crude that is). After a deluge of economic data overnight, and ahead of the weekly EIA inventory report, crude is edging higher thus far. Hark, here are five things to consider in the oil market today.

1) First up, Japan – the world’s third largest economy – saw preliminary economic growth in the first quarter come in mucho, mucho better than expected, at +1.7% YoY (versus an expected +0.2%). This is a big improvement on the prior quarter’s drop of -1.7% YoY. Perversely, this has not been accepted too gladly, as it indicates that a tentative economic recovery is underway – blunting the potential of stimulus going forward.

http://fuelfix.com/blog/2016/05/18/market-currents-five-things-to-consider-in-the-oil-market-today-2/