WTI Extends Crash To 10% After API Inventories Surge Most In 5 Months
After the worst day since last November’s OPEC meeting, WTI crude is falling further tonight as API reported a huge 7.6 million barrel inventory build. This is the biggest build (compared to DOE data) since early April! WTI Crude is now down 9.85% on the day – that is a bigger drop (close to close) than the Nov OPEC meeting drop and is not matched back to 2008/9’s collapse.
and the reaction is more selling in WTI…
Which is now down 10% on the day – a bigger move than the OPEC drop…
Charts: Bloomberg
