Goldman sees 1050 and 85 oil -Morgan says sell the rally
American Petroleum Institute reported that crude inventory increased +3.1 mmb, compared with consensus of -1.84 mmb decline, to 349.9 mmb last week as refinery dropped -2% to 84%. This was the first increase since April. Cushing stocks also gained +1.67 mmb. Gasoline stockpiles gained +1.33 mmb, higher than market expectation of +0.55 mmb while distillate stockpile added slightly by +0.15 mmb, compared with consensus of over 1 mmb build.
The US Energy Department is going to report its result today. Current market expectation is -2.1 mmb draw in crude oil and +0.65 mmb and +1.5 mmb increases in gasoline and distillate stockpile respectively.
and drop an email chrgr06@yahoo.com to schedule
Posts
