Against expectations of a 3.2mm build, API reported a 1.5mm build after-hours yesterday which sparked a modest pop in crude prices. Cushing saw its 7th weekly build (471k) as Gasoline extended its run of draws to the 4th week.

API:

  • Crude +1.5m
  • Cushing +471k
  • Gasoline -1.2m

    • 5th weely crude build, 7th weekly Cushing build, but 4th weekly Gasoline draw…

    The reaction was a modest pop for now…

    But algos now running stops…

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