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Crude Craters After API Reports “Disappointing” Inventory Build
Wednesday, May 27, 2015 15:51
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WTI Crude hit new 6-week lows at $57.36 after the close as API inventory data showed a build of 1.268 million barrels (after 3 weeks of draws) – dramatically higher than the 5.2mm barrel draw last week. Cushing saw a very small 72k draw.
After 3 weeks of hope-strwen draws, API reports a build this week…
And so prices dropped rapidly…
Charts: Bloomberg
Source: http://silveristhenew.com/2015/05/27/crude-craters-after-api-reports-disappointing-inventory-build/
