API numbers
Investing.com -- U.S. crude stockpiles fell by much more than expected last week, the API reported Tuesday, just as hopes of a China-fueled recovery in demand gather pace. Crude Oil WTI Futures, the U.S. benchmark, traded at $88.41 a barrel following the report after settling up 2.1% at $88.37 per barrel. U.S. crude inventories decreased by 6.5 million barrels for the week ended Oct. 28, the API reported, compared with estimates for a rise of 267,000 barrels, and a build of 4.5 million barrels reported in the previous week. The API data also showed that gasoline inventories fell 2.6 million barrels last week, while distillate stocks increased by 865,000 barrels. Demand destruction,think again Joe. Saudis are smiling and so am I .