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27 Apr 2016
Oil rallied to fresh 2016 highs on the back of the API data
The American Petroleum Institute (API) data showed an inventory draw of 1.1m barrels vs a build of 3.1m previous.
The data came in with the crude inventories as -1.07mln bbbls while the Cushing build was 1.9m bbls, Gasoline -400k and Distillates -1m.
of
the price has now been able to advance on earlier gains that penertrated the 50 sma on the 4hr sticks at $42.13 and has made fresh annual highs of $44.74 form $42.92 intra-sessions lows.
The data came in with the crude inventories as -1.07mln bbbls while the Cushing build was 1.9m bbls, Gasoline -400k and Distillates -1m.
of
the price has now been able to advance on earlier gains that penertrated the 50 sma on the 4hr sticks at $42.13 and has made fresh annual highs of $44.74 form $42.92 intra-sessions lows.