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 13, 2010

API Stocks 9-Apr-10

mmbbls
Crude: +1.4 (vs. +1.5 fcst)
Gasoline: +1.6 (vs. -0.6)
Distillates: +1.7 (vs. +0.9 fcst)

NEW YORK, April 13 (Reuters) - U.S. crude oil futures dipped some more in post-settlement trading on Tuesday after industry data showed that U.S. crude stocks rose last week.

Gasoline futures fell back to near flat as data from the American Petroleum Institute showed gasoline supplies increased, defying forecasts for a decline.

Heating oil futures extended losses on API's report of a larger-than-expected stock build.

The gasoline build was "bearish relative to both expectations for a draw and the five-year average drop of 1.8 million barrels," said Tim Evans, analyst at Citi Futures Perspective.