Crude Craters After API Reports "Disappointing" Inventory Build

WTI Crude hit new 6-week lows at $57.36 after the close as API inventory data showed a build of 1.268 million barrels (after 3 weeks of draws) - dramatically higher than the 5.2mm barrel draw last week. Cushing saw a very small 72k draw.


After 3 weeks of hope-strwen draws, API reports a build this week...


And so prices dropped rapidly...


Charts: Bloomberg


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