Profile image
By silveristhenew (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Oil BTFD Algo “Triggered” For Fourth Consecutive Week

Wednesday, February 15, 2017 10:16
% of readers think this story is Fact. Add your two cents.

Just as oil was set to test session lows after another massive oil build, sending US crude inventories to all time highs, many were wondering if the same exact algos that struck for the past weeks, would reappear sending oil surging on negative data would hit again. The answer: a resounding yes.

While it is difficult to explain why oil prices are rising, the rally it’s coming on very strong volume as someone clearly thinks it’s time to buy crude, again, and doing so with gusto.

So, bang on at the 3:45 pm London time, the algo emerged, exactly as in the last four weeks when bearish EIA figures also triggered buying.

Just like it did last week…

And the week before…

And the week before that…

*  *  *


After API’s bigger than expected crude build, DOE confirmed the data with a much-bigger-than-expected 9.5mm build pushing total US crude inventories to a new record high. Along with a large gasoline build, WTI/RBIB prices are tumbling on the print.


  • Crude +9.94mm (+3.5mm exp)
  • Cushing -1.27mm (+500k exp)
  • Gasoline+720k
  • Distillates +1.5mm


  • Crude +9.527mm (+3.5mm exp)
  • Cushing -702k (+400k exp)
  • Gasoline +2.846mm (+500k exp)
  • Distillates -689k (-1mm exp)

DOE confirmed API’s major build – the 6th weekly build in a row. Gasoline inventories surged again.

Sending US crude inventories to a new record high…

And Gasoline inventories to record highs…

Crude stocks  have risen +38.5 million bbl in first 41 days of the year compared with 10-yr avg rise of just +14.3 million bbl

As Bloomberg’s Javier Blas notes, this time the bulls can not claim that unusually high imports are driving up crude stocks. U.S. refiners last week bought overseas 8.5 million barrels a day, down 881,000 barrels a day from the torrid pace of two weeks ago. On a four-week average, imports are running just 9.9% above last year’s same period.

Furthermore, the U.S. exported last week crude oil at a rate of more than 1 million barrels a day — a record. That’s way more than the production of several OPEC members, including Libya, Ecuador, Gabon and Qatar.

US crude production continues to rise in trend along with lagged rig counts…

Bear in mind that the last 3 weeks have seen a fundamentally correct reaction lower in WTI/RBOB prices only to be algo panic bid after…

For now crude is bouncing as RBOB crashes….


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

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



Top Global


Top Alternative




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.