We are going to break a major support line at 46.60. After that the direction is 24$ Oil. Bye bye.
EIA US weekly oil inventories -2223K vs -2500K expected
Weekly US energy stockpile data • Prior was -4053K • Gasoline -122K vs -350K exp • Distillates -1574K vs +500K exp • Cushing -82K vs -400K exp The private numbers released yesterday showed a 6700K draw in oil supplies but traders are finding it difficult to reconcile those numbers with reports of only a 181K draw from Cushing, according to Genscape. The private numbers had also show large draws in gasoline and distillates which weren't reflected in the official data.