'Ample' Oil Inventories May Stop Bulls' Charge

Oil is spiking today after the IMF announced better than expected global growth and the IEA raised its demand forecast for 2014, but the market will soon run into tremendous resistance due to "ample" inventories, says Jeffrey Grossman, President of BRG Brokerage. The inventory situation could change if the cold snap persists, says Grossman, but heading into February the actual inventories are in good shape.

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