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Crude Pops After Smaller-Than-Expected API Inventory Build, Cushing Capacity Concerns Remain

Tyler Durden's picture
Submitted by Tyler Durden on 04/14/2015 16:39 -0400



 

After last week's record inventory build, it is perhap sno surpriose that API reports a 2.6mm build (below expectationsfor a mere 3.5mm bbl build). If this is confirmed by DOE data tomorrow, this will be the 14th week in a row - the longest streak on record. More importantly, the Cushing inventory build rose more than last week (+1.3mm vs +1.2mm) -  this is the 18th week in a row of inventory builds at Cushing (which is now over 90% full - 70.8mm bbl capacity).

 

Crude jumped modestly on this build...

 

But Cushing Capacity Constraints remain a concern...

 

 

Charts: Bloomberg

 
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Wed, 04/15/2015 - 10:03 | 5994232 ukspreads
ukspreads's picture

where did all the comments go to

Thu, 04/16/2015 - 18:11 | 6000558 fedupwhiteguy
fedupwhiteguy's picture

I got out of the oil patch back in 1986. And we did better for ourselves by doing so.

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