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Crude Oil Inventories Rise To Another Multi-Decade High

TedTed
in Off-Topic
FYI: After a big reported build in crude oil inventories from the API on Tuesday, this morning’s weekly inventory report from the Department of Energy showed an even larger build. While traders were expecting weekly inventories to rise by 3.5 million barrels, the actual increase was over 10.3 million barrels! That’s the largest weekly build in inventories since last April and the 13th largest weekly increase going all the way back to 1983.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/crude-oil-inventories-rise-to-another-multi-decade-high/

Comments

  • hank
    edited March 2016
    Oil is little changed today after a nice couple weeks. Brent is hovering near $37 after the $26-$27 fire sale a month ago. NYMEX is around $34 also up from under $26. Those represent nice percentage gains. PRNEX is around $28. I unloaded the shares bought for $24-$26 recently to raise a little cash. (Next sale probably around $30)

    Purchased PRLAX a few weeks ago as an indirect play on energy & commodities. Been screaming hot ever since. I guess they've partially resolved their deep political quagmire in Brazil where the fund is heavily invested. (I'd rather be lucky than good:))
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