Crude Slides After Biggest Cushing Build Since August

WTI Crude prices are lower after API reported a bigger than expected build in crude inventories (+3.66 vs +1mm exp) and the biggest Cushing build since August. The machines managed to tag the stops at the high of the day for WTI as gasoline drew down (though less than expected) but Distillates saw the biggest build since September.

API

• Crude +3.65mm (+1mm exp)
• Cushing +1.13mm (+150k) - biggest since August
• Gasoline -155k (-1.1mm exp)
• Distillates +2.98mm - first build in 8 weeks

Bigger than expected Crude and Cushing builds (biggest since August) along with a huge build in Distillates (first in 8 week)...

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The machines had no idea how to trade it, but ran stops at the high of day before tumbling...

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