NYMEX

Oil Unsure As Huge Gasoline Inventory Build Offsets Crude Draw

Following last week's surge in crude and product inventories, API reported a much bigger than expected drawdown in crude inventories ( versus -1mm expectations). While this spiked WTO prices, they fell back amid massive builds in gasoline (9.75mm) and distillates.

COMEX, ICE Gold Vault Reports Both Overstate Eligible Gold Inventory

Both CME and ICE publish reports showing warehouse inventories of gold in two categories, Eligible gold and Registered gold. Most importantly, however, both reports are technically incorrect for the approved vaults that they have in common because neither Exchange report takes into account the Registered gold reported by the other Exchange.

The Permian Pitfall: A Race To The Bottom For Tight Oil

Remember the shale gale and Saudi America? The scale of those outlandish delusions has now dwindled to plays in a few counties in West Texas and southeastern New Mexico. Saudi Permian. It’s a race to the bottom as investors double down on the tight oil companies that can still tell a growth story.

Traders Buy Everything After Fed Minutes Send USD Lower

Despite what seemed somewhat more hawkish than the July Statement, Fed Minutes sparked a dovish reaction sending the USDollar reeling, rate hike odds falling, and in turn bonds, gold, oil, and stocks higher...