OIL INVENTORY REPORT: ANALYSTS WAY OFF AGAIN WITH ANOTHER BULLISH REPORT

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CRUDE OIL had a DRAW of 4382K.  Consensus was for a BUILD of 100K.  BULLISH (AND WAY OFF THE CONSENSUS!)

GASOLINE had a DRAW of 1553K.  Consensus was for a BUILD of 750K.  BULLISH(AND OFF FROM THE CONSENSUS!)

DISTILLATE had a DRAW of 318K.  Consensus was for a BUILD of 1500K.  BULLISH (AND OFF FROM THE CONSENSUS!)

Very bullish report here (contrary to the analysts) as we enter the summer driving season.  That alone does not give us a trade. Since my last report oil and the USO have been on a tear.  The OIH, XLE, KOL, XNG have been doing pretty much as we expected: consolidating. 

Just waiting for the next move: will the oil stocks catch up with the USO or will we continue to have consolidation?  Who knows?

I just look for my simple pattern to trade.

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3. OIL INVENTORY REPORT: BULLISH AND BEARISH CRUDE OIL had a build of 3302K.  Consensus was...
4. WEEKLY OIL INVENTORY REPORT: BULLISH BULLISH BEARISH     CRUDE OIL had a draw of 4629K.  Consensus was...
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