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Home > Crude Pumps (And Dumps) After DOE Show Biggest Inventory Draw In 8 Months

Crude Pumps (And Dumps) After DOE Show Biggest Inventory Draw In 8 Months

By Tyler Durden
Created 05/06/2015 - 09:39
Tyler Durden's picture [1]
Submitted by Tyler Durden [1] on 05/06/2015 09:39 -0500



 

Confirming last night's API inventory data, DOE just reported a 3.882 million barrel drawdown in total crude inventories (considerably more than the 1.5mm bbbl draw expected). This is the biggest draw since early September. The initial spike took WTI Crude prices above $62.50 but that is fading now...

Biggest draw since September...

[3]

 

Oil pumped and dumped...

[4]

 

But still well up from last night's API print...

[5]

 

Charts:Bloomberg

 

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Source URL: http://www.zerohedge.com/news/2015-05-06/crude-pumps-and-dumps-after-doe-show-biggest-inventory-draw-8-months

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