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WTI, RBOB Tumble After Massive Product Inventory Builds

Thursday, January 5, 2017 13:03
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(Before It's News)

zerohedge.com / by Tyler Durden / Jan 5, 2017 11:07 AM

Following API’s larger than expected crude draw (and huge product builds), DOE reports massive builds in Distillates (+10mm – biggest sine Jan 2015) and Gasoline (+8.3mm – biggest since Jan 2016) and another big build in Cushing inventories. Crude inventories drew down 7.05mm barrels – confirming API’s data. US crude production also picked up and WTI prices tumbled.

API

  • Crude -7.431mm (-2mm exp)- biggest draw since Sept 2016
  • Cushing +482k (+900k exp)
  • Gasoline +4.25mm (+1mm exp)- most since Jan 2016
  • Distillates +5.244mm (-800k exp) – most since Jan 2016

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The post WTI, RBOB Tumble After Massive Product Inventory Builds appeared first on Silver For The People.



Source: http://silveristhenew.com/2017/01/05/wti-rbob-tumble-after-massive-product-inventory-builds/

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