dChan
Anonymous ID: 36a906 May 22, 2019, 9:22 a.m. No.6558592   🗄️.is 🔗kun   >>8625 >>8700 >>8979 >>9032 >>9145

Oil sheds more than $1/bbl as U.S. inventories grow, demand worries flare

 

U.S. crude inventories rise to highest since July 2017

  • U.S. gasoline stocks also show surprise build

  • Saudi pledges to keep oil markets balanced, sustainable

NEW YORK, May 22 (Reuters) - Oil futures sank on Wednesdayas an unexpected build in U.S. crude stockpiles compoundedinvestor worries that a prolonged trade war between Washingtonand Beijing could dent crude demand.

 

Brent crude futures LCOc1 shed $1.01 a barrel, or 1.4%, to$71.17 a barrel by 11:07 a.m. EDT (1507 GMT). U.S. West TexasIntermediate (WTI) crude futures CLc1 dropped $1.28 a barrel,or 2.0%, to $61.85.

 

U.S. crude inventories swelled by 4.7 million barrels in thelatest week to their highest since July 2017, the U.S. EnergyInformation Administration reported. Analysts polled by Reutershad forecast a decrease of 599,000 barrels as refineries cutoutput.

"It's at the extreme end of the range of possibilities for a bearish report," said Bob Yawger, director of futures at Mizuhoin New York. "It's about as bad as it could have been considering the fact that driving season is so close."

 

Gasoline stocks posted a surprise build as well, rising by3.7 million barrels compared with analysts' expectations for an 816,000-barrel drop.

 

The prospect of a long-term tariff fight between China andthe United States also pressured prices. No further talksbetween top officials have been scheduled since the last roundended in a stalemate on May 10.

 

The conflict is weighing on economic growth forecasts andoil demand predictions. The Organization for EconomicCo-Operation and Development (OECD) on Tuesday revised down itsglobal growth forecast for the year.

 

Growing tensions between the United States and Iran, whichcould to supply disruptions, helped limit losses.

 

The prospect that the Organization of the PetroleumExporting Countries and its allies will continue its output cutpact later into the year was also supportive.

 

Saudi Arabia, OPEC's defacto leader, said it was committedto a balanced and sustainable oil market.

 

U.S. bank Morgan Stanley said it expected Brent prices totrade in a $75-$80 per barrel range in the second-half of thisyear, pushed up by tight supply and demand fundamentals.

https://www.nasdaq.com/article/oil-sheds-more-than-1bbl-as-us-inventories-grow-demand-worries-flare-20190522-00719

https://www.dailyfx.com/crude-oil

 

even with all the lying SA does about how much it cut production-cut MUCH moar than it announced-see cap#2-they still have a HUGE build in inventory.

Anonymous ID: 36a906 May 22, 2019, 9:28 a.m. No.6558647   🗄️.is 🔗kun

>>6558533

have had many low grade booms to the east for a few years too. Always look at the USGA and see that it's at the requisite 10k deep and very small.

Had a weird storm last year in that direction, was a circular set of clouds that had ball lightening contained within just the clouds, no scatter. Spoopy as fuck. Pics failed to capture it. got out a bottle and popped it at that point as had no idea wtf it was. Better now-kek!

have had much go on in that regards all over.

Anonymous ID: 36a906 May 22, 2019, 9:57 a.m. No.6558881   🗄️.is 🔗kun

>>6558833

>Charts are fabulous anomalies.

They don't lie…people do. Even when active I NEVER put up moar than I could expect to lose. Big goddamn casino but in the casino's case they used to give you liquor and packs of cigs in the old days.

Anonymous ID: 36a906 May 22, 2019, 10:12 a.m. No.6559045   🗄️.is 🔗kun   >>9080

>>6558860

asset seizure most likely case anon. Some of the amounts(volumes) if dropped on the open market would absolutely crush it. You would see it show up for the most part. Case in point Baxter 10% owner "sold" almost 2x it's daily average volume during a space of a few days. It trades about 2.8m avg a day.