CL Redux
- Thread starter schizo
- Start date
http://www.marketwatch.com/story/oil-track-stocks-in-rising-above-79-a-barrel-2010-07-27
Analysts polled by Platts expect
a) a decline of 2.3 million barrels of oil on the week ended July 23.
b) Gasoline stocks are forecast to rise 1.1 million barrels
c) while stockpiles of distillates, which include heating oil and diesel, are expected to increase 1.8 million barrels.
Analysts polled by Platts expect
a) a decline of 2.3 million barrels of oil on the week ended July 23.
b) Gasoline stocks are forecast to rise 1.1 million barrels
c) while stockpiles of distillates, which include heating oil and diesel, are expected to increase 1.8 million barrels.
Good thing fundamentals don't matter in the oil market
This is not any bullish inventory given -2.3 + 1.1 + 1.8 => net 0.6 build.
Anyway oil inventories are at historic high levels , so one week do not matter either way build/draw.
For last so many weeks these numbers have some action leading to EIA report release , once released the action reverts back to as usual forces ES and EURO movements