U.S. Oil Stocks Are Seriously Undervalued Right Now

Oil prices appear to have found much-needed support and holding above the psychologically important level of $80/barrel just days after a surprise crude build threatened to derail the bull camp. On Tuesday, the American Petroleum Institute (API) reported another week of large crude oil inventory build at 5.213 million barrels for the week ending October 8. However, the revelation has failed to stop the oil price momentum, with WTI quoted at $81.40 per barrel on Thursday's intraday session while Brent was changing hands at $84.10. Oil prices are…