While Florida and the rest of the Gulf Coast deal with the aftermath of Hurricane Harvey and Irma and the energy markets assess the short-term demand destruction, in the bigger picture for energy, we are getting very bullish data in supply versus demand.
Super Mario Draghi giveth, but does he taketh away? The International Energy Agency is now starting to see things my way and says a bottom for crude oil may be in. This sets the stage for a market rally as traders await the news today. The Baker Hughes rig count number may report that the rise in operation could fall to the lowest level since the 1800’s.