Around The Barrel – Crude Oil and Gasoline Inventories Outlook

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    EIA reported another big build in crude storage….



    Overnight ramp? Why yes – everything is beautiful & fixed!.

    From 56.35 to 5704 – gotta love algos in liquid markets

    Headline: China commerce ministry ready to negotiate on how much tariffs can be cancelled
    Note lots of ifs and buts but $ES_F #oil $AUDUSD $USDJPY and oil lift off
    algos do their bit!


    Of note yesterday WCS differentials vs WTI Cushing widened despite the WTI sell off yesterday to some $22.50 per barrel (Argus Media) as Keystone pipeline operator TransCanada declared force majeure on the 590,000 b/d line from Alberta to Cushing, which is shut in since last week due to a leak (Reuters).

    The company’s statement indicated that the disruption would last ten days from last Friday but no date for a restart was announced.

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