Tuesday, March 29, 2016

"Oil - American Petroleum Institute (API) data - Inventory build of 2.6mln barrels"

The futures are up 1% from Tuesday's settle of $38.28, at $38.68, not as big a pop as one might expect for that big a miss, although Platts had only forecast 2mm Bbl..
Here's a quick hit from foreXlive:
  • Oil inventory build of 2.6 mln barrels
  • Cushing draw of 319K barrels
  • Gasoline -1.94 mln bbls
  • Distillate -95K bbls
The survey expectations for the headline number was a build of 3.2mln barrels, so the 2.6mln (2.642mln to be more precise) bbls result is below expectations...