API REPORT: Gasoline Builds, WTI Dumps

Initial Reports for ForexLive

OIL – private inventory data shows smaller than expected draw

Official data due Wednesday morning from the US, in the meantime this is from a private survey

  • The Reuters poll of analysts had the expected for crude inventories falling around 1.5 million barrels last week
  • This private survey shows a draw smaller than expected in the headline crude inventory

EnergyBasis@EnergyBasis: EIA #WPSR Estimates (in mbbls) for Week Ending April 14, 201

EnergyBasis@EnergyBasis: Crude #WPSR Estimates (in mbbls) for Week Ending April 14, 2017

EnergyBasis@EnergyBasis: Historical #EIA #WPSR Stock Changes for Week End April 14 #OOTT

Exert from Zerohedge.com 

Despite last week’s unexpected crude draw (and product draws) WTI/RBOB has faded since (even with a lower dollar) as OPEC production cut questions trump inventories for now. However, prices tumbled immediately after API report a smaller than expected draw in crude (-840k) and gasoline (-1.8mm) and a notable build at Cushing (which will be a new record if DOE data confirms).

Monthly/weekly WTI

Daily/300min