WTI Pops Despite Biggest Cushing Inventory Build Since 2008

With OPEC behind us, perhaps the market’s focus will swing back to fundamentals (as opposed to headlines) and following last week’s huge build across products, API reported the second week in a row of crude inventory draws (bigger than the expected 1.37mm drop). However, Gasoline and Distillates saw major builds but Cushing inventories rose over 4mm barrels – the most since 2008. WTI seemed to focus on the crude draw at first…

This post was published at Zero Hedge on Dec 6, 2016.