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EIA OIL STORAGE REPORT -Read More

Euphoric- Data Falsification to change the Market Sentiment

Crude oil It is Wednesday 10.am. All traders are looking at the EIA Data( US Energy Information Administration) to see if it is red or green . The color of the flag sets the direction of the day's trading.. Bullish or bearish .

For the last three consecutive weeks IEA has being releasing USA Petroleum inventories. Each week’s data were worse than the one before it, and yet the “ Market” reaction was positive , and the futures market advanced for wrong reasons, the wrong direction and to a new crude oil price highs,(see below).

But wait,the figures show, the highest Petroleum inventories in living memory .

Only three weeks earlier such a data would have sent the crude oil prices to near $22 per barrel just on the background of these distressing Cushing data.But why the market is euphoric and in irrational exuberance

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