Post by
lovehockey on Feb 23, 2021 4:38pm
Sketchy API numbers
There were two attempts to bring the oil price down in the last several days, both worked only for a little bit of time. I have a very hard time believing these numbers. I am sensing US, the oil addict is very afraid of oil prices continuing to climb. Every available tool will be used to bring it down.
Crude: +1.026MM Gasoline: +0.066MM Distillate: -4.489MM Cushing: +2.783MM
Comment by
Backinblack1000 on Feb 23, 2021 5:42pm
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Comment by
fellowship on Feb 23, 2021 5:52pm
The crude buildup due to refineries ,EAI needs to confirm and still think we should be okay. If another 1M cut will be needed it means even higher prices in the coming months. All good my friend.
Comment by
lovehockey on Feb 23, 2021 6:34pm
I don't know man. Gasoline is also at zero even though Amefricans had to use it more. But I agree, EIA numbers are more reliable historically.
Comment by
Renofund on Feb 23, 2021 9:47pm
API is a survey and are always lumpy. Tomorrow's numbers are the ones that matter. That said, with the weather last week, expect a build. Next week numbers should start to normalize. Not everything is a conspiricy