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  • US weekly EIA oil inventories -5085K vs +500K expected

    From forexlive.com

    US weekly oil data from the Energy Information Administration: • Prior was +2629K • Gasoline inventories +10,576K vs +1800K exp • Prior gasoline inventories +925K • Distillate inventories +6308K vs +200K exp • Prior distillates +1795K • Refinery utilization -0.1% vs -0.33% exp • Prior refinery utilization +1.3% The +500K 'expected' number is an illusion after yesterday's API data, which showed a 5600K drawdown. The Bloomberg whisper estimate was -4100K. API forecast gasoline stocks to rise 7100K, which may balance out the bullish crude data. The massive builds in gasoline and distillate might curb any ... (full story)

  • #1
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  • Jan 6, 2016 10:53am Jan 6, 2016 10:53am
Can anyone explain the sudden drop in crude on positive data? i don't get it.
  • #2
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  • Jan 6, 2016 11:00am Jan 6, 2016 11:00am
Quoting hatzius
Can anyone explain the sudden drop in crude on positive data? i don't get it.
Ok, got it, it's the cushing inventory staying positive.
there's always smth, if you know what I mean. Buy the damn thing!
  • #3
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  • Jan 6, 2016 11:01am Jan 6, 2016 11:01am
The problem is monkeys hammering oil. They can't hammer it in negative though.

-20.41 oil, have you seen gas stations paying you for filling up your car? have you seen that?
Invest in alarm clocks
  • #4
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  • Jan 6, 2016 11:04am Jan 6, 2016 11:04am
  •  Trader#AFE2
  • | Status: Unregistered Trader
It's the big rises in gasoline and distillate inventories that is bearish. So, near future demand is likely to be quite slack for crude until the inventory for those products is moved out.
  • #5
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  • Jan 6, 2016 11:20am Jan 6, 2016 11:20am
Quoting Tony112
The problem is monkeys hammering oil. They can't hammer it in negative though.

-20.41 oil, have you seen gas stations paying you for filling up your car? have you seen that?
I would love to see that, gas station pays for filling up my car is AWESOME!
  • #6
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  • Jan 6, 2016 11:30am Jan 6, 2016 11:30am
I still don't know why it is gas station ... oil is liquid ...
  • #7
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  • Jan 6, 2016 2:01pm Jan 6, 2016 2:01pm
  •  Trader#A764
  • | Status: Unregistered Trader
It's not crude itself,it's the oversupply in all the products that come from it because of the slowing world economy.Right now out of Galveston and Long Beach and many other places,tankers are being paid to store oil.
  • #8
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  • Jan 6, 2016 3:04pm Jan 6, 2016 3:04pm
Quoting hatzius
Can anyone explain the sudden drop in crude on positive data? i don't get it.
preset down algorithm, you can buy, but price will go down anyway
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  •  Trader#4112
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