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Against expectations of a 3.2mm build, API reported a 1.5mm build after-hours today which sparked a modest pop in crude prices. Cushing saw its 7th weekly build (471k) as Gasoline extended its run of draws to the 4th week.
API:
- Crude +1.5m
- Cushing +471k
- Gasoline -1.2m
5th weely crude build, 7th weekly Cushing build, but 4th weekly Gasoline draw…
The reaction was a modest pop for now…
But algos now running stops…
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