NYMEX

Inside The "Wildest Commodity Trade" Ever... Just Don't Blink

Chinese trading in futures of ferrosilicon exploded this week, with the average contract on Wednesday held for an estimated 39 minutes, the culmination of an HFT bubble which sent the price of the alloy 25% higher this month alone.

WTI Algos Confused On Crude Draw And Surprise Gasoline Inventory Build

WTI had coiled up today, closing lower, ahead of tonight's API data. After last week's API build and small DOE draw, hope was high that the trend of larger draws would continue and it did with API reporting a larger than expected crude draw (-7.839mm vs -2.2mm exp). However, a susprise build in gasoline inventories took the shine off and the machines could not decide whether to buy or sell.

Citi: Here Comes The V-Shaped Rebound In Oil

"Investors should position now for a potential V-shaped rebound in crude oil prices, as price risk seems asymmetrically skewed to the upside.... once market sentiment turns, prices could rally sharply."

Why The Crude Rally Has Fizzled - Part 3 (Of 3)

It is no understatement that it will take a lot of US demand to balance the market. And not just refinery demand, but also product demand too. And not just in the US. In the face of a world saturated with crude oil, the only thing that can truly balance this market is fresh demand from new technology, or a massive reduction in global refinery capacity.

 

WTI/RBOB Slide As Crude Production Hits 20-Month High, Cushing Glut Hits Record High

WTI/RBOB prices slipped ahead of DOE data as Canada's growth outlook cut trumped Saudi Arabia's wishy-washy chatter on production cuts. DOE data confirmed the biggest crude draw of 2017 (-2.16mm) and gasopline and distilates saw the 8th week in a row of drawdowns but Cushing's 276k build pushed it to a new record high as US crude production rose once again to its highest sine August 2015.