WTI Crude Slumps To $50 Handle On Larger-Than-Expected Inventory Build

API released its crude oil inventory data to subscribers and it printed an enormous 14.3 million barrel build (EIA tomorrow forecast at 3 million barrel build). This has sparked further weakness in WTI (not helped by refinery strikes, refinery fires, and storage capacities), pushing it to a $50 handle…

WTI back with a $50 handle…

Breaking below yesterday’s V-Shaped recovery lows…

One word – Stabiliteee…..

 

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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