Now you see it, now you don’t. Oil prices are falling on a huge 17.4 million-barrel weekly surge in U.S. crude supply—the biggest since January 2023—and on talk of weakening demand, as both OPEC and the IEA lowered their 2026 oil-demand forecasts yesterday. But prices are also falling on reports that the U.S. is creating an illusion that would make David Copperfield jealous.
Just step right up, ladies and gentlemen, and watch us make these oil supertankers disappear right before your very eyes....
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