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Oil Drops After API Inventories Show Builds Accelerating Again
After last week's smaller than expected API and DOE inventories data (which was merely average when considering the massive build from the prior week), it appears the machines have realized that everything is not awesome again in the crude complex. For the 15th week in a row, invenrtories rose - this time by more than expected at 5.5mm bbl (against a 2.5mm bbl expectation). Crude prices are slipping lower...
15th weekly build in a row...
The reaction is clear...
Bear in mind that this latest rip was all predicated on the API report from last week (confirmed by the DOE report)...
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Crude crash is part 1 of the 20 part economic collapse. It ain't going back up, period.
Just wait until thoses oil hedges start dropping off.
Long BK lawyers,and bank bail ins.
riiiiiiiiiiiiiiight....especially if some large wars break out anywhere near the middle east
What you're actually stating is "the US Dollar will never get weaker again!"
Laughable.
What you're saying is the BOJ and EBC won't devalue their currencies even moar. Oil can only be as expensive as what consumers can afford. If oil were to spike to $1000 tomorrow, it would drop back to $56 shortly.
So you're saying the same, just with a different reason "because all others will always devalue even faster!?"
I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... www.globe-report.com
holy moly!
Wake me up when it hits 40/bbl...otherwise this is all noise.
Rut Roh for Canada. They need mayhem, blood, body parts all over the middle east and they need it fast. I have Canadian friends in the oil biz that are hoping for a nuke to go off in the middle east.
We are one massively fucked up planet now. Thanks banksters...
nothing new, west need to kill someone to save the assess
Tell um not to worry help is on the way.......They'll get there wish and they'll see a fireball that'll reach all the way back to them. Problem is no one is gonna have any real money to buy gas.....so gl
Welcome to the ' other ' market that doesn't trade off fundamentals.
Such is life at the Hedge Fund Hotel .
Oil needs to fall below $30 to work off some of this absurd inventory levels.
Or imports can fall by about 1.0 M barrels per day. Don't expect to see it tomorrow, though.
ok, stupid question. That is only a 12 month chart. Is it normal for there to be a build in Q1?
Just askin'.
Just because they're storing a product doesn't necessarily mean they have to sell it.
That's right, they will make up for it in volume ... oh, wait ...
Regards,
Cooter
Copper down
Oil down
Interest rates down
Im no nobel prize winning economist but it doesnt smell like roses.
Crank up the reality cloaking device!
...and the M2 supply is on the move to the upside...
What will be really interesting is if inventories continue to push higher after Memorial Day. Grab some popcorn.
I know of so many people no longer working. They trade stocks daily and make nice money.
No longer having to drive anywhere.
The rest of the young people are unemployed or going to school.
Gasoline usage is way down, LOL building those carbon credits.
Vlad warns there will be dire consequences if Zeroes stop making those Western Union deposits....
Who is baby sitting you tonight ?
Doing a lousy job.
The corporate consolidation will continue.....until it doesn't
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