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9 Feb 2016
Oil makes a round turn on API inventories
Oil has caught a bid on the prelude to tomorrow's official EIA inventory data due in morning of the US shift.
The API weekly crude oil stocks numbers arrived with a rise of inventories +2.4m bbls.
Tomorrow's EIA report is estimated for a stock piles to rack up a further 3012.5K barrels.
At time of writing, WTI rallied to $28.52bbls from $128.15 the low. Spot is headed back to the start again, $28.27bbls at time of writing.
The API weekly crude oil stocks numbers arrived with a rise of inventories +2.4m bbls.
Tomorrow's EIA report is estimated for a stock piles to rack up a further 3012.5K barrels.
At time of writing, WTI rallied to $28.52bbls from $128.15 the low. Spot is headed back to the start again, $28.27bbls at time of writing.