The US now has more crude oil supplies from Venezuela, expected to increase domestic crude oil prices but lower gasoline and diesel prices. WTI and Brent markets anticipate increased noncommercial buying interest. The US president stated Venezuela will give 50 million barrels of oil, valued at $3 billion, controlled by him.

Investment money flow in crude oil market remains unchanged, with funds holding a net-long position near recent lows. A possible shift in outside force may arise, leading to debate on bullish supply and demand situation. Increased heavy crude supply from Venezuela may lift crude prices in relation to gasoline and distillates futures.

Using Venezuelan crude for US refining and global selling could increase global supplies amidst decreasing demand. Lack of WTI futures buying interest may indicate bearish fundamentals, despite energy company stock price jumps. Forward curves for WTI and Brent show backwardation, potentially leading to fund buying.

A bullish change in US and global crude oil fundamentals is doubted, with concerns about bearish fundamentals despite market conditions. A potential rally from renewed fund buying may result in a Rubber Band Disposition, snapping markets back to fundamentals. Technical momentum indicators show potential for fund buying in upcoming trading.

Read more at Yahoo Finance: Are Crude Oil Markets Bullish Now?