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2021-03-17

WTI Extends Losses As Crude Stocks Surge To 4-Month Highs

Oil prices rollercoastered overnight, rallying on the surpriseAPI-reported crude drawand then slumpi

WTI Extends Losses As Crude Stocks Surge To 4-Month Highs

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charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>WTI Extends Losses As Crude Stocks Surge To 4-Month Highs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWTI Extends Losses As Crude Stocks Surge To 4-Month Highs\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-17 22:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/energy/wti-extends-losses-crude-stocks-surge-4-month-highs>zerohedge</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nOil prices rollercoastered overnight, rallying on the surpriseAPI-reported crude drawand then slumping during the EU session amid demand concerns (driven by the terrible vaccine rollout).\n\n\"The ...\n\n<a href=\"https://www.zerohedge.com/energy/wti-extends-losses-crude-stocks-surge-4-month-highs\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/energy/wti-extends-losses-crude-stocks-surge-4-month-highs","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123606184","content_text":"Oil prices rollercoastered overnight, rallying on the surpriseAPI-reported crude drawand then slumping during the EU session amid demand concerns (driven by the terrible vaccine rollout).\n\n\"The suspension [of AZN vaccines] will not do the bloc's economic and fuel recovery any favors,\"said Stephen Brennock of oil broker PVM.\"The hope now is that Europe can get its sluggish vaccine rollout back on track.\"\n\nOil weakness was exacerbated by IEA's latest report that saida supercycle was unlikely, demand won't return to pre-pandemic levels until 2023and could peak earlier than previously thought.\nAfter the prior two weeks of record-breaking swings in inventories, this last week is expected to show only modest changes, with crude stocks sitting at their highest since early December.\nSource: Bloomberg\nAPI\n\nCrude -1.00mm (+400k exp)\nCushing\nGasoline -930k (-1.4mm exp)\nDistillates +904k (-900k exp)\n\nDOE\n\nCrude +2.396mm (+400k exp)\nCushing -624k\nGasoline +472k (-1.4mm exp)\nDistillates +255k (-900k exp)\n\nDespite refinery utilization recovering from the weather chaos in Texas,crude stocks increased last week(significantly more than API and was expected).\nSource: Bloomberg\nUS Crude production has yet to accelerate along with higher prices and more rigs...\n\nSource: Bloomberg\nWTI hovered around $64.50 ahead of the official inventory data and reversed its rebound on the print...\nOn the bright side, that $3.00 nation gas price may be avoided.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1084,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":2,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}