API Report for the Week Ending 8/26/16:
Crude builds slightly higher than Citi Futures this week coming in at +.942k exp. .900K. Modest draw in gasoline beating expectation, but Distillates sound the alarm +3.00 exp. -.200.
Crude’s Initial reaction to the data seen here:
Yellow highlights Y/Y comparison. This report states Crude builds with a major distillates build.
On a forex perspective, Dollar strength is crushing CAD/USD pair.
Metals are tanking as Energy ignores.
The Bloomberg commodity index fell for the 5th day in a row with all 24 major commodity futures in the red today.
Dr. Copper sees reality and Vomits. It’s time for WTI to see the light.
Copper Sounds the alarm on a high timeframe technical pattern.
And to end this madness. WTI four timeframe perspective
Bonus: *STORMS HAVE SHUT IN 22% OF GULF OF MEXICO OIL OUTPUT, U.S. SAYS