Why did falling crude oil inventories fail to excite the markets?

[hemanthaa@mail.com + 64]

To see more data that matters, please visit the site.

Edited January 28, 2021 by hemanthaa@mail.com
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[Jan van Eck + 7,558]

Short answer: continuing "demand destruction," which is really consumption destruction. 

The cruise ship industry is collapsed. 

The airline industry is collapsed. 

Nobody is driving much these days. 

It is a milder winter, thus less heating oil being consumed. 

There are vast amounts of oil out there, that can be brought onto market.  But no buyers for the stuff. Tends to keep the price down. 

[Tomasz + 1,608]

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Because this week’s large decrease in comparative inventory is at best a neutral signal. It was because of lower crude oil stocks but did not reflect a demand increase.

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Edited January 29, 2021 by Tomasz

[Roch + 537]

On 1/28/2021 at 6:41 AM, hemanthaa@mail.com said:

To see more data that matters, please visit the site.

You think maybe they finally figured out a weekly U.S. WTI inventory report unto itself is a worthless data point or indicator ?

That data point usually solicited a knee jerk reaction that was usually short lived.

 

 

It's always SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , THEN SURPRISE INVENTORY DROP , THEN SURPRISE INVENTORY BUILD , 

Edited January 31, 2021 by Roch