RE:RE:API
Interesting article I saw about how trading houses have been gaining more and more control over the numbers submitted to the API and EIA.
https://oilandenergyinvestor.com/2016/12/look-how-oil-markets-are-being-manipulated-now/
It does make a lot of sense. There is huge money playing oil these days. Traders can hide oil from these reports, and bring it back in when they please. API depends on voluntary data, so they can withhold data there and submit to EIA to create discrepancies and tradable swings when the API and EIA are very different. Can even move storage from one place to another (flood Cushing stocks) to create some panic even when overall stocks are declining.
All kinds of games that can be played these days with oil, and if you have the money to do so, and people are going ot all program their HFT's to trade off API and EIA data, why the heck wouldn't you? Hopefully one day the API data becomes truly irrelevant, but for now, it's a wonderful tool that can be used to manufacture volatility and make some easy money for the guys that are controlling the data.