Crude inventories drop more than expected, API reports
US crude oil stockpiles fell by 1.83 million barrels last week, exceeding expectations for a 300,000-barrel drop, according to the American Petroleum Institute. Gasoline supplies plunged by 2.56 million barrels, while distillates were down by 2.09 million barrels.
oil stocks are going to run more if inventories keep falling. Have read from several different sources that inventories were distorted because OPEC members exported every ounce of oil they could find just prior to announced trimming of production in November. This bloated storage and has clouded the picture ever since.
We'll see if the inventories keep coming down.
I have some options on REN and OAS.
Please post stock symbols first in all your posts. If it's a foreign stock, please list the US pk equivalent symbol.
If the Commodities Boom is Over, I am just a Gold Bug headed for the Windshield of LIFE