Crude Inventories To Sink To 8-Year Low This Year: Nuttall ...Middle East

Inventories of crude oil will reach an 8-year low by the end of this year, Eric Nuttal, partner and Senior Portfolio Manager at Ninepoint Partners, told BNN Bloomberg TV on Tuesday. While persistent fear of China’s stuttering crude oil demand and the boogeyman of high interest rates are periodically dragging down oil prices, the recent price rally in crude oil has been fairly substantial. “When you boil it all down, our measurement of the health of the oil market comes down to oil inventories—globally,” Nuttall explained.…

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