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API Reports Larger-Than-Expected Total Crude Inventory Build For 6th Consecutive Week, Cushing Draw
For the sixth week in a row, API reports a larger than expected 2.8mm inventory build (though that is lower than the last few week's build). Cushing stocks, however, saw a 508k draw, easing some storage concerns. Crude oil prices remain confused for now having pumped and dumped to unch.
Sixth weekly build in a row...
Crude popped and dropped...
Charts: Bloomberg
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Crude oil is like cramers cock, there's no where left to put it.
This is not so good for Vlad. Where now is pay for expansion to Syria and Iraq!?
Oil price decline and revenue decline haven't seemed to stop Putin Russia's plans so far.
Secret weapon of Russia is expendable blood of half billion men, young and old. Never forget Stalingrad!
(Single death is tragedy, Million death is statistic.)
Not sure about the comp to his genitalia but one thing's for sure, crude pricing is the ultimate pump and dump and has absolutely no relation to either what's in demand or in the ground.
It's crude everywhere now.
Even the US is trying to sell for payment.
You are think this is just something, dig hole in ground and pull out at leisure.
... but da, is kind of is like that when thinking.
Think more, is not most commodity item make more expensive so elite is gain control over proletariat masses? Think, diamond is common crystaline formation, but deBeers is monopolize production and curtail flow to increasing price. Oil is flow from ground, but war is create to decrease flow and distribution. Socialist State of California is dump 80B liter fresh water into saline bay to increase water cost and all agricultural product. Big scam yet is creation of carbon credit - expulsion of ordinary breath is create taxable event. Illuminati is everywhere!
"larger than expected inventory build..."
That certainly explains (sarc) the 5.1% rally off last night's lows and the 13.5% rally in the past week. It's the equivalent of 240 SPX pts or 2,400 DJIA pts.
Ever since USDJPY flatlined last December, CL is increasingly responsible for fueling the algos. Total disconnect with fundamentals.
http://pebblewriter.com/cl-algo-madness/