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WTI advanced to the highest level since April

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pleeb01   Tuesday, 10/24/17 04:54:16 PM
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WTI advanced to the highest level since April today amid OPEC considering an extension of output caps, and extended gains after API data despite a surprise build in crude. RBOB gained on a much bigger than expected gasoline draw (-5.7mm vs +1.7mm exp).



API

Crude +519k (-3mm exp)
Cushing -55k
Gasoline -5.753mm (+1.7mm exp)
Distillates -4.949mm
Last week's DOE data confirmed the trend of gasoline builds and crude draws, but if API is correct that normalization trend just ended...


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