DOE Reports WTI Draw

On October 22, 2013 by TradingDesk

Yesterday, the EIA confirmed a 4 million barrel build in crude stocks which sent WTI tumbling to settle below $100/bbl for the first time since July 1st. Refined products fell in sympathy but an inventory draw for both RBOB and ULSD seemed to stop the bleeding and keep both above major support levels. With gas and diesel taking back much of yesterday’s loss and WTI down about $.20/bbl, HO cracks are back at levels not seen since early May.

Look to $3 range for diesel, about $2.65 for gas, as support levels. RBOB has about a dime to climb before hitting some resistance, HO’s got about a 4 cent range to play in.

CLICK HERE for a PDF of today’s chart

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