Crude oil storage report - August 19

[dan_s]

CRUDE OIL INVENTORY/’000 bbls (Week Ended 8/14/15)

Current: 456,213
Actual Build/(Withdrawal): 2,620
Economist Average Estimate: (354)
Previous: 453,593

This is why oil was down today. IMO the market over-reacts to this weekly storage report which is a wild ass guess at best. It is what it is and this market is ruled by fear.