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
5th weely crude build, 7th weekly Cushing build, but 4th weekly Gasoline draw...
- Gasoline -1.2m
The reaction was a modest pop for now......MORE