Visitors Now:
Total Visits:
Total Stories:
Profile image
By silveristhenew (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Oil Tumbles After Biggest Crude Inventory Build In 6 Months

Wednesday, October 12, 2016 15:02
% of readers think this story is Fact. Add your two cents.

(Before It's News)

With OPEC/NOPEC headlines the biggest drivers in recent days, the first inventory build in six weeks (according to API) sparked notable weakness in WTI after hours. The 2.7mm build (bigger than the 2mm expectation) is the largest since April. Gasoline stocks also rose (against expectations of a draw) as Cushing (and Distillates) saw a significant drawdown which we suspect are hurricane-affected moves.


  • Crude +2.7mm (+2mm exp)
  • Cushing -1.352mm (+100k exp)
  • Gasoline +688k (-900k exp)
  • Distillates -4.517mm

For the first time in six weeks, crude inventories rose last week by the most in 6 months. We also note a massive drawdown in Distillates (most since Oct 2014) due to the Hurricane

The reaction was an immediate kneejerk to $50 and the lows of the day…

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.