Crude Carnage Continues After Another Inventory Build & Production Rise
by Tyler Durden
ZeroHedge.com
07/08/2015
For the 2nd week in a row, crude oil inventories saw a build (after 8 weeks of draws) albeit a modest 384k barrels. Cushing also saw an inventory build. At the same time, production rose very modestly back to near cycle record highs (thouygh we note an extremely small drop in Lower 48 production). Crude prices have tumbled on the news as apparently yesterday’s exuberance over better demand data from EIA has been long forgotten…
The Rest…HERE
