Oil Traders To Blame For Recent Rally?

Oil prices have been on a tear over the past week, but this rally may not be entirely driven by fundamentals, sorry Andy Hall. The all-in cost of tanker vessels chartering has once again intersected with the slope the oil forward curve, making for conditions which have previously initiated a process of floating storage inventory build. Oil Asset Impairments Soar – Hit $100 Billion In 2015, Up From $23B In 2014 And $9.3B In 2013 According to research from Deutsche Bank, over the last two years alternating phases of inventory build and draw have ranged in magnitude from 30 million…