Tuesday, June 9, 2020

API Reports Huge Crude Oil Build -- WTI Plummets -- Drops 47 Cents -- June 9, 2020

API weekly crude oil in storage: large builds "shocks" markets. I'm shocked! Shocked! Fortunately just in time for hurricane season.  
  • forecast: a small draw of 1.738 million bbls (note false precision)
  • actual: 8.42 million bbls -- wow
  • we'll wait for EIA's data to be posted tomorrow before we get too excited


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Back to the Bakken

Active rigs:

$38.516/9/202006/09/201906/09/201806/09/201706/09/2016
Active Rigs1364615227

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Are You Kidding Me?
This Is The Guy That Led The Impeachment Effort 

https://video.twimg.com/ext_tw_video/1270135120704548872/pu/vid/480x270/CaeAOmY46DpKGrcV.mp4?tag=10.

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