snake oil uses The American petroleum institute (API) released data showing a decline in U.S. crude oil and refined refining inventories, while gasoline inventories rose. This is one of several economic forecasters who will suffer a downturn if voters leave the eu. This was in October, when the recession caused sterling to fall. But he feels that the pound now reflects post-recession levels, and there is no reason for prices to fall further. He also estimated that the UK recession might end and that sterling could rise. His data have also shown that the price drop has stopped, and he sees it as a signal that price increases will begin. So he decided to buy the pound.