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Crude Slides On Bigger-Than-Expected API Inventory Build (Small Cushing Draw)

Submitted by Tyler Durden on 04/28/2015 16:37 -0400

Against expectations of a 3.3mm bbl build, API reported a 4.2mm bbl build - the 16th weekly build in a row (and record streak). Cushing saw a small draw of 162k bbls.

WTI Crude fell back below $57...

Charts: Bloomberg

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Tue, 04/28/2015 - 16:54 | 6040050 Sudden Debt

So how is storage capacity doing? Or will the bullshit be finally revealed?

About 10 times more oil is traded on the Ice than is actually pumped. Who has actually q clue how much oil is out there and how much paper there is?

Tue, 04/28/2015 - 18:13 | 6040439 knukles

So, the dynamic was a small drew, right?
Must be that hellacious, bodacious, out of this world recovery ..... that and electric cars.

Tue, 04/28/2015 - 19:53 | 6040827 americanreality

Say goodnight Knukie. Please.

Wed, 04/29/2015 - 04:01 | 6041754 legend247

Since I started freelancing I've been bringing in $90 bucks/h… I sit at home and i am doing my work from my laptop. Th? best thing is that i get more time to spent with my family and with my kids and in the same time i can earn enough to support them... You can do it too. Start here... www.globe-report.com

Tue, 04/28/2015 - 16:50 | 6040067 Black Forest

This is the end

https://www.youtube.com/watch?v=NoBFhdeR9PE

Tue, 04/28/2015 - 16:46 | 6040070 Thisisbullishright

Dropped 10 cents in a few minutes and is now basically sideways...

..a nothing burger...

Tue, 04/28/2015 - 17:00 | 6040118 sun tzu

Sideways is bad news for oil traders.

At these prices, it's also bad news for E&P and servicers

Tue, 04/28/2015 - 17:11 | 6040159 Chuck Knoblauch

Oil is down until the dollar is replaced.

Sorry.

Tue, 04/28/2015 - 16:52 | 6040077 Chuck Knoblauch

Price of oil isn't determined by supply and demand.

Low oil price is supporting a high dollar.

That is all.

Derivatives manipulation.

How many contracts are left should be the question.

An infinite supply of bullshit supporting an infinite supply of bullshit.

Who buys this bullshit?

More bullshit needs to be taught in college.

Tue, 04/28/2015 - 17:18 | 6040186 FreeShitter

Top so far 58, bottom was 42 or so

Tue, 04/28/2015 - 17:32 | 6040254 Bryan

I hope crude slides to < $45/bbl.

Tue, 04/28/2015 - 18:43 | 6040564 venturen

oil is like Apple ...they could throw the sh!t in the ocean and the price would still go up. Apple is a cult hedge fund and oil is a oligarch's plaything!

Tue, 04/28/2015 - 19:43 | 6040788 Dazman

20 Cents on a few hundred contracts. C'mon now... have you heard the story about the boy who cried wolf?

Tue, 04/28/2015 - 23:43 | 6041458 JoWazzoo

API doan mean shit. EIA number is the one to watch. And WOW!!! a 20 cent move in oil!!! BFD. This is just effing noise in a market that has been routinely moving 3 - 5 % a day.

Why not tell us why the indexes ramped up AFTER the market cloised at 4. Those little mini contract guys having some fun? Or just front running tomorrow's Fed statement?

http://finviz.com/futures_charts.ashx?t=ES&p=m5

http://finviz.com/futures_charts.ashx?t=YM&p=m5

http://finviz.com/futures_charts.ashx?t=ER2&p=m5

Crude Slides On Bigger-Than-Expected API Inventory Build (Small Cushing Draw)

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