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Category Archives: WTI

WTI Sinks After Surprise Crude Build / by Tyler Durden / Nov 28, 2017 4:37 PM Despite UAE oil minister jawboning, WTI/RBOB was sold today heading into the API data and extended losses after crude showed a surprise build (+1.82mm vs -2.95mm exp). Cushing saw a massive destocking and RBOB was steady after gasoline showed a surprise draw. API Crude +1.82mm (-2.95mm exp) Cushing -3.178mm – […]

Global Stocks Tumble, Asia Plunges On Chinese Commodity Carnage

The euphoria of the past month has ended with a thud and BTFDers are strangely missing as the commodity chill out of China (which overnight became full blown carnage), has unleashed a global risk-off phase ahead of today’s critical CPI data, resulting in broad and sharp selling across global markets, as European stocks followed declines […]

WTI Jumps Above $56 – Highest Since July 2015

Having legged higher at the opens of Asia, Europe, and US markets, WTI is extending gains overnight on middle-east tensions… Brent is trading above $62 amid anti-corruption drive led by Saudi Crown Prince Mohammed bin Salman, which may consolidate his control in OPEC’s largest oil producer, and WTI has pushed abocve $56 “We have political uncertainty, risk […]

WTI Jumps Despite Surprise Inventory Build, Production Rebound / by Tyler Durden / Oct 25, 2017 10:39 AM Following last night’s (API-reported) big product draws (and crude build), WTI slid lower (RBOB higher) into this morning’s DOE data, but both WTI/RBOB prices jumped after the report showed major product draws (and a Cushing destocking). WTI rallied despite a big surprise build (+856k vs -3mm exp) and a […]

Stock Market Warning Siren is Blaring / By Wolf Richter / Aug 12, 2017 Are we blinded yet by the brilliance of corporate earnings? “Adjusted” earnings growth is 10.2% year-over-year in the second quarter, according to FactSet, based on the 91% of the companies in the S&P 500 that have reported results. The energy sector was a key driver, with 332% “adjusted” earnings […]

WTI/RBOB Sink After Biggest Gasoline Build In 7 Months, Production Hits New Cycle High / 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). […]

S&P Futures Bounce As VIX Hammered, Europe “Euphoric” / by Tyler Durden / Jul 25, 2017  6:49 AM After sliding to 3 month lows on “car cartel” concerns yesterday, European stocks have rebounded after three days of declines, while oil extended gains after Saudi export cuts, with Brent rising above $49 and WTI just shy of $47. Asian stocks fell while S&P futures rose 0.2% to […]

WTI Plunges To 7-Month Lows – Enters Bear Market As HY Bonds Crater / by Tyler Durden / Jun 20, 2017 11:47 AM WTI Crude has entered a bear market (down over 20% from its highs) amid concerns OPEC-led output cuts won’t succeed in rebalancing the market (and not helped by the fact that Libya is pumping the most crude in 4 years). For the first time since Nov 2016, WTI […]

WTI/RBOB Stumble After Mixed Inventory Data, 16th Straight Week Of Increased Crude Production / by Tyler Durden / May 24, 2017 10:40 AM WTI/RBOB prices were relatively unchanged from last night’s API inventory print (despite some volatility from OEPC headlines) ahead of the DOE print, but that did not last long as Crude saw a much bigger than expected draw (-4.43mm vs -2mm exp) and gasoline a considerably smaller draw […]

WTI/RBOB Jump After Biggest Crude Inventory Draw Since 2016 / by Tyler Durden / May 10, 2017 10:37 AM WTI and RBOB have rallied since last night’s surprisingly large Crude draw (and gasoline build) reported by API, and DOE data confirmed with inventory draws across the entire complex (including gasoline). WTIO and RBOB prices popped as Crude inventories dropped most since 2016 despite crude production rising […]