Against expectations of a 3.2mm build, API reported a 1.5mm build after-hours yesterday which sparked a modest pop in crude prices. Cushing saw its 7th weekly build (471k) as Gasoline extended its run of draws to the 4th week.
Against expectations of a 3.2mm build, API reported a 1.5mm build after-hours yesterday which sparked a modest pop in crude prices. Cushing saw its 7th weekly build (471k) as Gasoline extended its run of draws to the 4th week.
API:
5th weely crude build, 7th weekly Cushing build, but 4th weekly Gasoline draw...
The reaction was a modest pop for now...
But algos now running stops...
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