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WTI Shrugs Despite Huge Crude Draw

WTI Shrugs Despite Huge Crude Draw

A v-shaped recovery in WTI/RBOB today (amid a dollar reversal at the EU close and chatter about a big crude draw) led prices higher into the API print (but after last week's 100% incorrect API vs DOE reversal, who knows what it means). And the rumors were true - a huge crude draw (biggest in 2 months) and the first build at Cushing in 8 weeks. However WTI prices didn't move much as product builds weighed on RBOB prices.

 

API

Globalization Is Poverty: "The Endgame Is Painfully Obvious"

Globalization Is Poverty: "The Endgame Is Painfully Obvious"

Authored by Raul Ilargi Meijer via The Automatic Earth blog,

Central bankers have never done more damage to the world economy than in the past 10 years. One may argue this is because they never had the power to do that. If their predecessors had had that power, who knows? Still, the global economy has never been more interconnected than it is today, due mostly to the advance of globalism, neoliberalism and perhaps even more, technology.

Global Stocks Just Shy Of Record Highs As Dollar, Yields Rise On Taylor Tension

Global Stocks Just Shy Of Record Highs As Dollar, Yields Rise On Taylor Tension

Global markets traded near all-time highs on Tuesday, with S&P futures, Asian shares and European stocks all flat this morning, while oil continued to gain on Kurdish geopolitical concerns while most industrial metals fell.  The euro extended its recent slide and stocks drifted as Spain’s escalating hard-line response to the Catalonian secession threat fueled concern the crisis may intensify.

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