In a deja-vu-all-over-again echo of last week, API reported a huge 7.3 million barrel drawdown in oil inventories this week (against expectations of a build) and sparked a headline-driven jerk higher in crude prices. Last week the same happened and the next day DOE reported a huge build (consensus for tomorrow is a 345k draw), crushing oil prices... Trade Accordingly...
Biggest inventory draw sicne July 2014...
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The reaction is clear (for now)... but remember last week we saw same and it faded fast...
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