Crude Oil Analysis Report 5-3-19…Is More Downside Ahead???

Oil prices fell as much as 4% on Thursday, breaking through a key support level, as rising U.S. crude stockpiles helped offset concerns about a supply crunch.Crude futures declined despite a wave of geopolitical concerns, including political turmoil in Venezuela and the launch of new American measures aimed at driving Iran’s crude exports to zero.The drop was partly due to the overhang from Wednesday’s weekly report on U.S. crude stockpiles, which showed inventories surging by 9.9 million barrels. The data also showed U.S. oil production ticking up to a record 12.3 million barrels per day.U.S. crude stockpiles have risen in

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