WEEKLY OIL INVENTORY REPORT: BEARISH AGAIN?

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CRUDE OIL had a build of 1645K.  Consensus was for a build of 1500K.  IN LINE

GASOLINE had a build of 656K.  Consensus was for a draw of 1400K.  BEARISH (AND WAY OFF THE CONSENSUS!)

DISTILLATE had a build of 3354K.  Concensus was for a draw of  600K. BEARISH (AND WAY OFF THE CONSENSUS!)

The so-called consensus was fairly close estimating the OIL numbers, but the GASOLINE and DISTILLATES leave something to be desired. The odds favor the bears.

As usual, the trade will reveal itself later (if at all) after the initial emotions wear off.  The oil market (USO, XLE, OIH) is currently at the bottom of a range that it has been in since the first of April and in a slightly upward trend.

See HELP WANTED: OIL INVENTORY ANALYST

TRADING IS WAR. PREPARE YOUR WEAPONS.

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