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, April 27, 2010

API Stocks 23-Apr-10

Change mmbbls
Crude: +5.3 (vs. +1.0 fcst)
Gasoline: -0.7 (vs. +0.8 fcst)
Distillates: -1.4 (vs. -1.4 fcst)

April 27 (Reuters) -- API "reported a larger than expected 5.3 mmbls build in US commercial crude stocks for the week ended April 23, as a lower refinery operating rate offset a decline in oil imports," said Tim Evans of Citi Futures Perspective in New York.

Evans said that since the API reported total stockpile levels 4.5 million barrels above the past week's Energy Information Administration tally, it may indicate EIA will report a larger than expected rise on Wednesday.