Squawk / 24 August 2016 at 13:55 GMT
Head of Commodity Strategy / Saxo Bank
Denmark
EIA weekly inventory report up next. Crude oil continues to swing wildly with negative fundamentals being met by verbal support from oil producers. The weekly inventory report at 1430 GMT is expected to show declines in both crude oil and gasoline inventories. This is in contrast to the 4.46-million barrels rise in crude inventories reported by the API yesterday. Last week the report proved supportive with declines in oil, gasoline and Cushing inventories all supporting additional short-covering.
Latest data below with updates being posted here following the release
1y
Ole Hansen Ole Hansen
This comment has been redacted
1y
Ole Hansen Ole Hansen
US crude inventories rose by 2.5M bbl last week as refinery activity slowed and imports rose. Gasoline inventories also rose instead of the expected fall. Table below with initial price response
1y
John Roberti John Roberti
Dear Ole, we have a slight decline in domestic production in the 48 states but I have difficulties to put a clear data on domestic gasoline consumption. It seems though that it has been declining! is this correct? Thanks in advance for your insights
1y
Ole Hansen Ole Hansen
Gasoline supplied has started to decline in line with seasonal behaviour
1y
John Roberti John Roberti
thanks ole! I was not sure that we could consider gasoline supplied as equivalent to consumption!.
1y
AlexF AlexF
Dear Ole what is your target (short) intraday today and over next week ?

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