U.S. Crude and Gasoline Storage Outlook

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    EIA reported another huge build in…



    After KSA saying they will cut production with WTI oil down at $60 (from $76) will be cutting production Pres Trump tweeting that he hopes ‘OPEC’ won’t be cutting oil production as it is too high on supply – it seems to me he doesn’t know when to stay silent – there will come a time when its like the boy cried wolf.

    Plus he clearly doesn’t understand the US oil market we have record production in the US and we have the Saudis saying they will take some off the table which would help that balance. I am sure that raised a few eyebrows across O&G boardrooms today.


    The river of blood…

    U.S. WTI crude oil futures settle $55.69/bbl. $4.24. -7.07%. CL_Z8 on voume of ~962k (over 1 million after hours)


    API Crude Oil Stock Change at +8.79M – lots of Supply as POTUS is prone to say

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