BIG DRAW from crude oil storage in U.S.

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dan_s
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Joined: Fri Apr 23, 2010 8:22 am

BIG DRAW from crude oil storage in U.S.

Post by dan_s »

The API reported a draw of 9.2M barrels of crude oil for the week ending August 11 vs. last week's draw of 7.84M barrels.
Gasoline showed a build of 300K barrels and distillates showed a draw of 2.17M barrels.

If EIA confirms a draw from crude oil storage anything close to this, it should draw some attention from the traders. Crude oil storage is falling like a rock.
Dan Steffens
Energy Prospectus Group
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