Amid record crude exports, DOE reported a surprise draw for crude inventories and surprise build for gasoline inventories which along with another rise in crude production sent both WTI and RBOB lower in the initial market reaction.
DOE
- Crude -1.85mm (+3.1mm exp)
- Cushing +1.18mm
- Gasoline +1.1mm
- Distillates -814k
Production continue to rebound…
The Kneejerk reaction is a drop in both crude and gasoline prices…
via http://ift.tt/2xFnFxG Tyler Durden