Crude Plunges After Surprising Builds Despite Gasoline Draw And Production Cut

Wednesday, August 10, 2016
By Paul Martin

by Tyler Durden
ZeroHedge.com
Aug 10, 2016

Following last night’s unexpected build in crude (and Cushing) inventories, DOE data confirmed the surprising build in Crude (+1.05mm – 3rd weekly rise) and Cushing’s 1.2mm build is the most in 3 months. Gasoline inventories drewdown less than API reported but Distillates saw an unexpected build. Crude is whipsawing around as the bullish gasoline draw (and production cut) battles with bearishly unexpected builds in crude, Cushing, and Distillates.

The Rest…HERE

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