Reply To: Traders Market Weekly: Rates, Banks and Herd Mentality

#73431
TradersCom
Keymaster

EIA reported a crude build of +3.165Mbbls. Gasoline stocks rose +1.299M, the most since January 19. Distillate drew -1.185Mbbls in inventories. The WTI Futures Hub at Cushing stocks rose with a 2.107Mbbls build. Domestic US oil production was unchanged at 13.1mbpd just off the all-time high 13.3mbpd. Refinery utilization rose +0.9% to 82.4%. There was +700Mbbls added to SPR inventory WoW. Coming into the end of the quarter the slow rise of oil price volatility continues in a tight range since it broke out of a flag pattern to the topside.

Around The Barrel – Crude Oil and Gasoline Traders Outlook