Tuesday, March 15, 2016

"Oil Pops After Lower-Than-Expected Crude Build"

Front month (Apr.) $36.72 off 0.46 after trading as low as $35.96.
From ZeroHedge:
Against expectations of a 3.2mm build, API reported a 1.5mm build after-hours today which sparked a modest pop in crude prices. Cushing saw its 7th weekly build (471k) as Gasoline extended its run of draws to the 4th week.API:
  • Crude +1.5m
  • Cushing +471k
  • Gasoline -1.2m
5th weely crude build, 7th weekly Cushing build, but 4th weekly Gasoline draw...

The reaction was a modest pop for now...