Tuesday, June 30, 2020

API: Largest Crude Oil Draw This Year -- June 30, 2020

API weekly estimate:
  • largest crude draw this year -- link here;
  • forecast: an inventory draw of less than a million bbls
  • a draw of 8.156 million bbls for the week ending June 26, 2020
  • EIA data tomorrow
Closing prices after data released:
  • OPEC basket drops -- this is terrible news for Saudi Aramco, Prince MbS; link here;
  • WTI up a bit

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