Silver as an investment

WTI/RBOB Sink After Biggest Gasoline Build In 7 Months, Production Hits New Cycle High

zerohedge.com / by Tyler Durden / Aug 9, 2017 10:38 AM

Last night’s mixed bag from API has been dominated by ‘war premium’ in oil prices as WTI bounced off $49 ahead of the DOE report which confirmed that gasoline inventories surprisingly built (+3.42mm vs -1.5mm exp) – the biggest build since January – and Crude inventories drew (though less than API). Crude production in the Lower 48 rose to 9.048mm b/d – a new cycle high.

API

  • Crude -7.839mm (-2.2mm exp)
  • Cushing +319k
  • Gasoline +1.529mm (-1.5mm exp)
  • Distillates -157k

DOE

  • Crude -6.45mm (-2.2mm exp)
  • Cushing +569k
  • Gasoline +3.42mm (-1.5mm exp)
  • Distillates -1.73mm (-500k exp)

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