Oil falls back into negative territory as the inventory bump fades

WTI crude down after the floor close

WTI crude fell 40-cents after the settlement and has now erased nearly all of the climb that followed today"s inventory report.

It"s been one setback after another for the crude bulls and just when it looks like they caught a break with some good data, it fades. That doesn"t make for a pretty picture going forward.

There has bene no fresh news. If anything, talk that Algeria and Venezuela will support an extension of the production cut is bullish.

Meanwhile, the oil selling has lit another fire under USD/CAD as the pair takes another run at 1.3627. A close above 1.3600 would be especially bullish.

Oil falls back into negative territory as the inventory bump fades
Oil falls back into negative territory as the inventory bump fades
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