
Boy, That Escalated Quickly: Crude Dumps, RBOB Pumps On Stock Data
Boy, oh boy.
If you wanted a dramatic set up for tomorrow's EIA data, I've got one for you. At 4:30 we got this week's API numbers as usual and (as is also usual) we printed a huge stock build...
Crude inventories +11.6m bbl last week
Consider that against this...
EIA to publish weekly inventory data Wednesday; median forecast is +1.39m bbl in crude stockpiles last week, Bloomberg survey of analysts shows
But, we also got this from API...
Gasoline -4.96m
Versus this expected from EIA..
The house of Saud crumbles a little more.