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Crude Down Following Biggest Weekly Inventory Rise In 14 Years

Crude Down Following Biggest Weekly Inventory Rise In 14 Years

So much for last night's lower than expected API build, DOE data shows a massive build compared to the 3.95 mm barrels expected:

• *CRUDE OIL INVENTORIES ROSE 10.30 MLN BARRELS, EIA SAYS

This is the 8th build in a row and biggest weekly inventory rise in 14 years.

CrudeInventoryChange

This is the fastest inventory build EVER...

8WeekChange

and WTI has broken back below $50... Related: No Real Oil Price Relief Until Q3

APIDOE

Unambiguously good still?

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