La Croix Energy Capital | Petroleum Derivative Trading

“Think like a fundamentalist; trade like a chartist.”
Dennis Gartman. Rule #8 - Gartman’s Simple Rules of Trading

Tuesday, March 16, 2010

API Stocks 12-Mar-10

mmbbls
Crude: +0.4 (vs. fcst +1.1)
Gasoline: -3.7 (vs. fcst -0.8)
Distillates: -0.8 (vs. fcst -1.1)

NEW YORK, March 16 (Reuters) - U.S. crude futures pushed higher post-settlement Tuesday after an industry oil inventory report showed crude stockpiles rose less than expected while
gasoline stocks fell much more than forecast.

"A weakened dollar and associated renewed risk appetite drove most of today's oil price advance," Jim Ritterbusch, president at Ritterbusch & Associates, said in a note.