Oil the cat and mouse crude market explained

The price of WTI has fallen by around 10 this week in a market that looks set to continue playing a cat and mouse game according to Saxo Bank s Head of Commodity Strategy Ole Hansen. Inventory data has been applying weekly downward pressure while the end of week falling rig count tends to lift the price. A shock report from the American Petroleum Institute for the week ending February the 13th showed a massive 14. 3 million barrels added to supply, way above the the expected 3. 1 million barrels.