Latest oil inventory data from the EIA
– Prior +3955k
– API was -1200k. API Cushing -100k
– Cushing +98k vs -540k
– Gasoline +1910k vs +250k exp. Prior +3254k
That’s taken the fire out of the rally in WTI which has fallen back to 48.80 from 49.60. The 100 dma sits at 48.58