After a deluge of economic data overnight, and ahead of the weekly EIA inventory report, crude is edging higher, but traders were slightly disappointed by the EIA reported crude barrel build of 1.3 million barrels. Hark, here are five things to consider in the oil market today. 1) First up, Japan – the world’s third largest economy – saw preliminary economic growth in the first quarter come in much, much better than expected, at +1.7 percent YoY (versus an expected +0.2 percent). This is a big improvement on the prior quarter’s drop of -1.7 percent YoY. Perversely, this has not been accepted too gladly , as it indicates that a tentative economic recovery is underway – blunting the potential of stimulus going forward. 2) Across to […]