US weekly oil inventory data from the EIA week ending 17 November 2017

  • Prior 1.854m
  • Overnight private data -6.356m
  • Cushing -1.827 vs -1.504m prior (OPD -1.796m
  • Gasoline 0.044m vs 1.000m exp. Prior 0.894m (OPD 0.869m)
  • Distilates 0.269m vs -1.000m exp. Prior -0.799m (OPD -1.670m)
  • Production 9.658m vs 9.645m prior

The private data was way off. Production continues to rise and that’s obvipusly bullish for prices 😉

WTI dropped around 20 ticks from 57.70. With only a few days until the OPEC meeting, it’s inlikely we’ll see any meaningful falls but after is a different matter.

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

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