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WTI/RBOB Shrug At Bigger Than Expected Crude Build

Courtesy of ZeroHedge. View original post here.

Dollar strength sparked WTI/RBOB weakness on the day but a bigger than expected crude build reported by API did nothing for futures which, after an initial drop, popped back to practically unchanged.

API

  • Crude +3.427mm (+1.23mm exp)

  • Cushing +725k

  • Gasoline +1.062mm

  • Distillates -4.083mm

The crude build would be largest since early March (and biggest distillates draw since early March) if EIA data confirms it…

WTI/RBOB price action was minimal around the data (RBOB maybe slightly lower)…


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