Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Oil Extends Losses After Big Distillates Inventory Build
08-30-2016, 05:11 PM,
#1
Oil Extends Losses After Big Distillates Inventory Build
Oil Extends Losses After Big Distillates Inventory Build

<p>After last week's surprise crude build (biggest in ~4 months) and builds across the entire complex, API reported a crude build of 942k barreles (just shy of expectations of +1.5mm) and while Cushing and Gasoline saw draws, <strong>Distillates saw a major 3mm barrel build (+275k exp)</strong>. The initial reaction in crude was to extend the day's losses, back below $46.50...</p>
<p>&nbsp;</p>
<p><u><strong>API</strong></u></p>
<ul>
<li>Crude +942k (+1.5mm exp)</li>
<li>Cushing -620k</li>
<li>Gasoline -1.6mm (-1.25mm exp)</li>
<li>Distillates +3mm (+275k exp)</li>
</ul>
<p>Another Crude build but the big news was a major Distillates build...</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/08/30/20160830_API2.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/08/30/20160830_API2_0.jpg" style="width: 600px; height: 463px;" /></a></p>
<p>&nbsp;</p>
<p>And the reaction in crude after a down day was an initial kneejerk lower...</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/08/30/20160830_API1.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/08/30/20160830_API1_0.jpg" style="width: 600px; height: 371px;" /></a></p>
<p>&nbsp;</p>
<p><em>Charts: Bloomberg</em></p>


<div class="field field-type-filefield field-field-image-teaser">
<div class="field-items">
<div class="field-item odd">
<img class="imagefield imagefield-field_image_teaser" width="1827" height="1129" alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/20160830_API1.jpg?1472589378" /> </div>
</div>
</div><img src="http://feeds.feedburner.com/~r/zerohedge/feed/~4/ZmtiVKauHGI" height="1" width="1" alt=""/>


http://feedproxy.google.com/~r/zerohedge...tory-build
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)