Oil Slides After Bigger Than Expected Gasoline Build
After a day of frenetic OPEC headlines being all that matters, oil traders may briefly focus on fundamentals as API reports an unexpectedly large build in gasoline inventories ( 2.68mm vs 900k exp). Overall crude, cushing, and distillates saw inventory draws which left wti slightly lower post-data.
Crude -1.28mm ( 1mm exp) Cushing -140k (-100k exp) Gasoline 2.68mm ( 900k exp) Distillates -350k
This post was published at Zero Hedge on Nov 22, 2016.