US Crude Oil Inventories See Massive Drop Off
Context
The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by a massive 11.12 million barrels in the week ending October 9. In the week prior, US crude oil inventories fell by 2.09 million barrels. Commercial crude oil inventories excluding the SPR have lost more than 51 million barrels over the last 26 weeks, but US crude inventories are at roughly the same level as they were at the beginning of the year, according to API data, kept in check in part thanks to draws from the SPR. For the week ending October…
What it means
Causal chain
No clear market signal
How to read a signal
- Severity
- the event's market impact, 1–5
- Direction
- ↑ / ↓ likely price move for the asset
- Exp. move
- the size of the abnormal move we'd expect if the call plays out — not a claim a move will happen:Most flagged events don't move beyond noise; those count against us (see the track record).Ssmall<1%Mmoderate1–5%Llarge>5%
- Timeframe
- the window we measure over:1dshort5dmedium21dlong
- Conviction
- how well-established the directional call is (textbook → speculative) — not a guaranteed outcome:lowaveragestrong
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Sign up free →Not investment advice · for informational purposes only. Generated 14 Oct, 21:44 UTC