Baytex Energy Corp T.BTE

API Crude Oil Stock numbers just out.

[smallcaptdr]

This isn't good, too much surplus for having SPR finishing plus the US largest Oil refinery has been back online along with Colonial #3 Line now for a couple of weeks so having another surplus will really question just how slow the US economy is getting and with GDP & Durable Goods Orders up to bat Thur any number that comes in lower will give Oil a serious punch but for now deal with what we have and that's too much Oil so tread lightly. We'll see how the US traders deal with confirmation from EIA tomorrow at 10:30am. It seems that each time Oil gets to $82 the US pounds it down that last serious one was Jan 18 ended up hitting $78 from $82.




US API Crude Oil Stock

[riski]

It seems you are not aware that product and raw material builds are seasonal? Builds should be happening at this time of the year to prepare for late spring and summer demand when they should be drawing. Refineries can't make product fast enough at those times so they build up stores from Sept-March.  Also, the number must be interpreted in the context of import/export numbers, refinery

[HighOctane89]

One more point riski , refineries are preparing for seasonal shutdowns when they set up to make summer gasoline , this preparation generally involves emptying storage tanks that are scheduled to be inspected . Very few refineries will take deliveries at this time of year as they are running down their own inventory . As the tanks are re-certified , deliveries will ramp up prior to restarting the