US Crude Oil Inventories Decline Slightly; Essentially Flat -- API -- April 17, 2018; Kraken Operating With Six New Permits In North Dakota

Weekly crude oil inventories, API data:

• forecast: an increase of 0.625 million bbls of oil
• actual: a decrease of 1.047 million bbls of oil; oilprice.com said this was in-line with analysts expectation, although API forecast a slight build
• the EIA data will be released Wednesday morning, 10:30 a.m. EDT
• oilprice.com headline: "oil prices head higher after API reports crude inventory draw"
• at close: WTI was up 30 cents for the day; trading at $66.52
• 30 cents / $66.52 = 0.4%
• technically, the headline was correct -- "oil prices were higher" -- 0.4%

Active rigs:

$66.52→	4/17/2018	04/17/2017	04/17/2016	04/17/2015	04/17/2014
Active Rigs	59	52	29	93	186

Seven new permits:

• Operators: Kraken Operating (6); Hunt Oil
• Fields: Epping (Williams); Brooklyn (Williams); Ross (Mountrail)
• Comments: Kraken Operating has permits for a 6-well Kraken pad in NENE 25-155-99

Four permits renewed:

• Sinclair: four Yauch permits, in McKenzie County