Advertisements
oil OPEC

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…

  • Gasoline stockpiles -1.99m to 253.9m

Which led directly to this juxtaposition…

WTI

…and subsequently to my own, trademark, in-depth analysis…

So if you needed some hard data to trade on amid the incessant and often contradictory CERAWeek chatter out of Houston, there you go.

 

 

Advertisements

1 comment on “Boy, That Escalated Quickly: Crude Dumps, RBOB Pumps On Stock Data

  1. Curt Tyner

    The house of Saud crumbles a little more.

Speak On It

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Skip to toolbar