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  • API: Crude: +3.378M, Cushing: +3.928M, Gasoline: +0.620M, Distillates: -1.929M

Added at 4:39pm

  • WTI Holds Losses After API Reports Biggest Cushing Build Since April 2020

    From zerohedge.com

    Oil prices traded down today after punching up to seven-week highs with WTI back to a $79 handle after weak 'soft' survey data poured more cold water on the idea of a 'soft landing'., along with disappointing results from a handful of economic-activity bellwethers, such as Union Pacific and 3M. These results have tempered optimism for the economy in the near-term. Oil prices declined on "uncertainty about how much of a demand boost we'll see, and concerns over a weakening U.S. economy constrains the upside," said Michael Hewson, chief market analyst at CMC Markets U.K. "With the latest PMI numbers in US, Europe and ... (full story)

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