API yesterday reported a drop in stockpiles by 7.34 MB to 349.3 MB last week; distillates including heating rose 1.7 MB to 159.3 million. Meanwhile, the Energy Department is to release its EIA report later on today and is expected to show a drop by 900 thousand barrels, while gasoline stockpiles are expected to show a 300 thousand barrel drop as well.
Looking for 86.50 as a possible buy area, hopefully we can get there with a little help from the eia. Although if we get above 88.20 that might make me want to buy as well since right now we are in that consolidation area from last friday.