According To The Latest API Data, Motor Gasoline Demand Is Down 60% From Previous EIA Report

(edited)

My thoughts on the latest API crude oil report is that sadly, from the previous week’s EIA report, there seems to have been more than a 60% decrease in motor gasoline demand.  Also, I feel that the analysts made a ridiculously overly high estimate of what they thought the gasoline draw was going to be....was very suspicious on that because why would they come up with that figure when there’s no major holiday in that week?  Maybe the analysts were all dads and had a lot of people travel to visit them on Father’s Day of that week?  Lol. 

Predicting oil prices for WTI to fall again Wednesday and also on Friday....Will most likely be a negative Jobs report from the Dept. of Labor to once again pull oil prices down.  If I’m wrong & the report is positive, just around the corner - there’s only another tariffs threat on Europe or China from Trump to make sure oil price sinks back down & extends losses further for the market....LOL, but so true.

Edited by David Zernhelt

Share this post


Link to post
Share on other sites

24 minutes ago, David Zernhelt said:

My thoughts on the latest API crude oil report is that sadly, from the previous week’s EIA report, there seems to have been more than a 60% decrease in motor gasoline demand.  Also, I feel that the analysts made a ridiculously overly high estimate of what they thought the gasoline draw was going to be....was very suspicious on that because why would they come up with that figure when there’s no major holiday in that week?  Maybe the analysts were all dads and had a lot of people travel to visit them on Father’s Day of that week?  Lol. 

Predicting oil prices for WTI to fall again Wednesday and also on Friday....Will most likely be a negative Jobs report from the Dept. of Labor to once again pull oil prices down.  If I’m wrong & the report is positive, just around the corner - there’s only another tariffs threat on Europe or China from Trump to make sure oil price sinks back down & extends losses further for the market....LOL, but so true.

EAI are as reliable as the price of oil and they have all the real data, basically they cannot count and IMO is a mafia for oil traders to go short or long it’s a rigged game....

  • Great Response! 1
  • Haha 1
  • Upvote 1

Share this post


Link to post
Share on other sites

Oil price action yesterday was a negative surprise to me.  I thought the cartel's extension of cuts and big API draw would surely have resulted in a big day to the upside.  I was wrong, and it cost me some money.  

Share this post


Link to post
Share on other sites