WTI Crude Jumps After 'Another Huge Surprise' API Inventory Draw

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...

 

The reaction is clear (for now)... but remember last week we saw same and it faded fast...