RE:RE:RE:RE:Crude Inventory:Yeah I would say it was some kind of averaging between the previous two weeks and that unexpected build two weeks ago was somehow misrepresented. Inventory is a hard tiger to tame at the best of times, imagine trying to do it for multple outlets all with flowing inventory and different people reporting....oh the people.
It is possible they were trying to hold back positive numbers to affect the July 4th gasoline pricing. I have read that theory somewhere and given the amount of time it takes for oil pricing numbers to affect prices at the pumps, it may have worked. My guess is if they were holding back the numbers somebody saw these ones and figured they better let em through as holding another week would make them even more lopsided.
GLTY and all
VeritasVern wrote: How does inventory drop by 12.2 million barrels in one week? Production averaged 10.1 million so that would be a drop of about 121% of production? WTF?