Oil And Petroleum Product Inventories Worse Than Last Year

 | Jan 26, 2017 01:52AM ET

We examine the EIA data this past week, and it is interesting what a difference a year makes, psychologically speaking, as we have more inventories in storage across the board, yet we are almost double the oil price versus this time last year in $53 a barrel versus $26 a barrel. There is a lot of Fantasy Land thinking going on in financial markets right now.