Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

RBOB Slides After Surprise Build, WTI Flat On Crude Draw

Courtesy of ZeroHedge. View original post here.

With WTI unable to rally beyond $65 today due to trade war concerns (and with OPEC on its mind), investors’ expectations are for further inventory draws this week, which WTI did but an unexpected build in gasoline sent RBOB lower.

“The market is in a holding pattern awaiting OPEC decisions and tethered very closely to the stock market, which is crumbling,” said Thomas Finlon, director of Energy Analytics Group LLC in Wellington, Florida.

API

  • Crude -3.016mm (-2.475mm exp)

  • Cushing -1.594mm (-450k exp)

  • Gasoline +2.113mm

  • Distillates +750k

Another sizable draw for WTI but Gasoline surprised with a big build (as did Distillates)…

WTI was unable to get back above $65 during the day session and the API print sparked a kneejerk lower in WTI/RBOB before WTI recovered…

“We seem to be taking a hit again from the ante being raised in the U.S.-China trade war,” said John Kilduff, a partner at New York-based hedge fund Again Capital LLC. “And then of course the looming OPEC meeting: Russia’s reiterated that they are looking for a big increase.”


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!