Any idea where the downtrend after 4 PM came from? Seemed to come without any news (that I could see)???
After hours energy???
- Thread starter SideShowBob
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4:30 was the API report. crude stocks down .8m, looking for 1.8, crude oil imports up .154mbd
Do you have a link for the report?
sorry, i subscribe to dow jones energy news service through CQG so there is no link. you can problably get the numbers by searching the API site American Petroleum Institute www.api.org
the API numbers come out tues at 4:30 eastern
the API numbers come out tues at 4:30 eastern
Thanks for the info. Been trading crude for 2+ years now, never noticed this before. Weird. Guess my systems were never in the market on a Tuesday night when there was a big move.
The API's used to come out at the same time as the DOE's, but they recently moved the API figures to Tuesday evening.
I can't decide whether to pay attention to the API's or not, seeing as they are very rarely the same as the DOE's, based on the fact that submitting volumes you have in storage is voluntary for the API's, but mandatory for the DOE's.
Lots of potential for deliberate misleading if a company has a lot in storage but doesn't disclose it - not suggesting for a minute that this goes on of course!
I can't decide whether to pay attention to the API's or not, seeing as they are very rarely the same as the DOE's, based on the fact that submitting volumes you have in storage is voluntary for the API's, but mandatory for the DOE's.
Lots of potential for deliberate misleading if a company has a lot in storage but doesn't disclose it - not suggesting for a minute that this goes on of course!
The API usually leads to a knee-jerk reaction which at night with low volume can exaggerate the move. But is is not as 'important' as the DOE.
Although, the DOE number usually does the same! It is typical that the DOE number creates a lot of movement and then the market goes back to where it was trading before anyway.
Although, the DOE number usually does the same! It is typical that the DOE number creates a lot of movement and then the market goes back to where it was trading before anyway.
Yep! I've found the WTI / Brent arb makes a nice move though.
Damn, i hope someone capatilized on my comment that the market goes back to where it was before the number came out!!