Zero Hedge
All posts from Zero Hedge
Zero Hedge in Zero Hedge,

Crude Pops & Drops As API Reports Unexpected Inventory Draw

Against expectations of a 4.75 million barrel build, API reported an estimated inventory draw of 404,000 barrels - potentially ending the 8 week build streak if DOE confirms (following last week's huge DOE-reported 10,303 million barrel build). The initial reaction of the machines was a jerk higher, perfectly tagging $49.00, before tumbling back into the red.



Charts: Bloomberg