Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Re: What Happened to Crude/ range ??

The cut back I was referring to came from the EIA crude oil report that comes out every Wednesday at 1030 Eastern. Two weeks ago they reported the following:

"U.S. crude oil refinery inputs averaged 16.0 million barrels per day during the week ending September 25, 2015, 241,000 barrels per day less
than the previous week’s average."

This week the report said :

"U.S. crude oil refinery inputs averaged about 15.6 million barrels per day during the week ending October 2, 2015, 403,000 barrels per day less
than the previous week’s average."

Unfortunately, they went on to describe a 3.1 million barrel increase in the commercial oil inventory. This ended up being way more than expected and was the catalyst for driving the price of December crude down into the low $48 range.

Nice bounce back today to slightly over $50.

Messages In This Thread

Re: What Happened to Crude/ range ??