API: Drop in US Crude Oil Stocks, But Surprise Gasoline Build

U.S. crude oil inventories are down just over 1 million barrels for the week ended 12 August, according to the weekly American Petroleum Institute (API) report, but U.S. gasoline inventories are up over 2 million barrels in the biggest increase in six months. Cushing crude inventories were down 680,000 barrels. Earlier today, crude oil rallied to a one-month high, but slid back down following the release of the API data. West Texas Intermediate (WTI) for September delivery closed at US$46.58 on the New York Mercantile Exchange, but was down to…

API: Drop in US Crude Oil Stocks, But Surprise Gasoline Build

THIS has only happened twice in the last 17 years…

stock-market-upMarket Recap for Monday, August 15th, 2016   Stocks got off to a nice start this week. Rallying overnight, the major indices were higher at the open. And the buying continued throughout the morning session. There was a bit of a pullback in the afternoon, but it wasn’t enough to keep the major indices from ending the day with new all-time highs. At the end of day the S&P, DOW, and NASDAQ all had new records – a feat that has only happened twice since 1999. There were 2 key reasons stocks were higher: Crude Oil – Oil jumped almost 3% on the possibility of a production freeze. There’s always […]

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THIS has only happened twice in the last 17 years…

“Summer Trading” – Fact or Fiction?

Stock market up and down - Rockwell TradingMarket Recap for Sunday, August 14th, 2016   Last week looked like typical summer trading. Ranges were low, and we really didn’t have any major news moving the markets. In fact, the S&P’s 16 point range was the smallest weekly trading range of the year. And if you don’t pay much attention to ranges, 16 points is more common for a trading DAY than it is for an entire week! Things did get a little exciting on Thursday when the indices made records across the board. Closing at new records, it was the first time that the S&P, DOW, and NASDAQ all closed with record highs since 1999! After Thursday’s […]

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“Summer Trading” – Fact or Fiction?

API Reports Biggest Crude Oil Build in 3 Months, Significant Gasoline Draw

Adding another shock to the already volatile market in contradiction of analyst expectations, the American Petroleum Institute (API) is reporting a significant increase today in its weekly U.S. crude inventory report of 2.09 million barrels, following a volatile day of trading. Markets will also be responding to the API’s report of a 3.9-million-barrel drop in gasoline stockpiles and a 1.5-million-barrel draw for distillates. Analysts are expecting that the Energy Information Administration (EIA) will report a 1.0-million-barrel drop in U.S.…

API Reports Biggest Crude Oil Build in 3 Months, Significant Gasoline Draw