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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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