Against expectations of a 2.5mm barrel build, API reported Crude stocks drewdown in the latest week by 2.13mm barrels, sparking a kneejerk gain in WTI crude back above $72…
API
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Crude -2.13mm (+2.5mm exp)
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Cushing +1.5mm
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Gasoline -3.4mm
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Distillates -246k
After 3 weeks of crude builds, API reported a draw in the latest week…
And WTI spiked back above $72 on the headline crude draw…
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