zerohedge.com / by Tyler Durden / Sep 13, 2016 4:41 PM
Following last week’s epic crude inventory drawdown, the market expected a post-hurricane build of 4mm barrels, but API reported a mere 1.4mm build. However, a massive build in Distillates inventories (+5.3mm – biggest in 8 months) confused the machines. WTI had fallen back to a $44 handle – erasing all the inventory-draw-spike gains – before API data hit; but then spiked to last week’s API levels, tumbled, then spiked again…
- Crude +1.4mm (+4mm exp)
- Cushing -1.12mm (-300k exp)
- Gasoline -2.4mm (-1.1mm exp)
- Distillates +5.3mm
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