Oil Inventories Are Basically Off The Chart

The collapse in crude oil prices has primarily attributed to a glut in supply.

And while it's unlikely that a nearly 60% decline in the price of any asset can be attributed to just one factor, this chart from George Pearkes at Bespoke Investment Group shows that no one can deny the amount of supply in the oil markets is way, way above normal.

Go read the rest of George's Saturday morning chart-storm on Ello »