Louisiana Light • 2 days | 85.15 | -1.06 | -1.23% | |||
Bonny Light • 1 day | 88.97 | +1.21 | +1.38% | |||
Opec Basket • 2 days | 84.98 | -0.94 | -1.09% | |||
Mars US • 146 days | 77.67 | -1.57 | -1.98% | |||
Gasoline • 12 hours | 2.721 | +0.049 | +1.82% |
Bonny Light • 1 day | 88.97 | +1.21 | +1.38% | |||
Girassol • 1 day | 88.90 | +1.44 | +1.65% | |||
Opec Basket • 2 days | 84.98 | -0.94 | -1.09% |
Peace Sour • 19 hours | 74.10 | -0.27 | -0.36% | |||
Light Sour Blend • 19 hours | 73.60 | -0.27 | -0.37% | |||
Syncrude Sweet Premium • 19 hours | 82.35 | -0.27 | -0.33% | |||
Central Alberta • 19 hours | 74.00 | -0.27 | -0.36% |
Eagle Ford • 2 days | 77.83 | -0.27 | -0.35% | |||
Oklahoma Sweet • 2 days | 78.00 | +0.00 | +0.00% | |||
Kansas Common • 2 days | 71.50 | -0.25 | -0.35% | |||
Buena Vista • 2 days | 84.55 | +3.95 | +4.90% |
OPEC and the broader OPEC+…
Morgan Stanley remains pessimistic about…
ZeroHedge
The leading economics blog online covering financial issues, geopolitics and trading.
After six straight weeks of drawdowns and against expectations of a 2.5mm barrel build, API reported a massive 6.736mm barrel drawdown - the biggest since June 2015. Distillates and Gasoline also saw major draws. The result - unsurprisingly - is a surge in crude, extending the day's gains, even though Cushing saw a modest 80k build.
API
o Crude -6.736mm (-2.5mm exp)
o Cushing +80k
o Gasoline -3.603mm
o Distillates -2.305mm
This is the biggest drawdown since June 2015 and 2nd biggest since July 2014...
(Click to enlarge)
Of course this is largely expected from a seasonal perspective...
And as a result, crude is spiking...
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By Zero Hedge
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