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Crude Dumps’n’Pumps Despite Massive Inventory Builds, Biggest Jump In Production In 20 Months

Wednesday, January 11, 2017 15:30
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(Before It's News)

zerohedge.com / by Tyler Durden / Jan 11, 2017 10:39 AM

After last week’s massive product builds (and crude draw), API suggested additional builds ahead of DOE data which confirmed even bigger than expected builds in Crude, Gasoline, and Distillates. WTI gapped lower on the print then accelerated lower as US crude production rose by the most since May 2015. Then the algos decided it was time to rip oil prices higher (perhaps on indications of stronger demand)…

API

  • Crude +1.53mm (+1.5mm exp)
  • Cushing -187k
  • Gasoline +1.69mm
  • Distillates +5.48mm

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The post Crude Dumps’n’Pumps Despite Massive Inventory Builds, Biggest Jump In Production In 20 Months appeared first on Silver For The People.



Source: http://silveristhenew.com/2017/01/11/crude-dumpsnpumps-despite-massive-inventory-builds-biggest-jump-in-production-in-20-months/

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