The Next Two Months Will Be Critical For Oil Fundamentals

Energy markets have kicked off the new month on the back foot, with oil prices sliding 3% in Wednesday’s intraday session following a surprise U.S. inventory build amid lingering uncertainty about future oil demand growth.  Weekly data by the Energy Information Administration (EIA) reveals crude stockpiles of 7.3 million barrels for the week to April 26, a sharp swing from a draw of 6.4 million barrels posted the previous week.   That marks the highest inventory levels since last June. Meanwhile, the Fed is expected…