Genscape report said to be boosting prices
Wash, rinse, repeat.
A week ago, a report from Genscape boosted crude prices. The analysts said there would be a smaller build at the Cushing, Oklahoma hub in weekly government data to be released Wednesday. It ended up being the largest weekly build in 12 years.
Today it's the same thing as traders cite Genscape research saying supply won't be as large as expected. That's helped WTI crude to $50.65 from $49.50. last week the Genscape report sparked a $1.50 rally in crude.
WTI intraday
