BOOM! Oil is on the Rise. Could the Bust be Over?

(Wyoming)- U.S. stock indexes have had a three-day rally, as oil prices continued to rise. Wednesday was a big day for the oil industry and for those in Wyoming whose jobs depend on the price of oil. Brent crude prices were up 2.5 percent, rising for the second straight day after Iran supported plans to freeze output and a report showed a surprise drop in U.S. inventory. The steep slide in oil, whose performance has been tightly tied to the stock market is showing signs that it may be reversing. Yesterday U.S. oil prices jumped nearly 8% on following the large unexpected drop in crude inventories. Crude inventories in the U.S. fell by a 3.3 million barrels late last week. Which has come as a shock as the projections were for there to be a 3 million barrel increase. That equates to a 6 million barrel difference between projections and the actual supply available. Some are predicting that deals abroad between Iran, Iraq, Qatar, and Venezuela are signs of a drawn down and will cause oil prices to rise significantly. #reboot #news #oilcity #dally #shortgo #county17 #county10 #buckrail #springcity #bootstrapped