Oil probably trade up tomorrow

[SKEP + 229]

I expect oil to trade up on API Inventory report tomorrow.  

Just closed at $54.53.  Could trade $56 + intraday

 

While the API numbers are very unreliable and not even remotely indicative of world Inventory numbers it's all we have to trade off of. If everyone continues to trade of this number gotta go along .  Can't fight it.

Be careful. It's reported that we may see record exports ladt week. API doesn't report export numbers.  But if daily exports increased it will show up in lower Inventory numbers.  Showing greater decrease Inventory.  

EIA numbers more accurate.  Their export number included in second release at 1:30 pm Wednesday.

Edited August 12, 2019 by SKEP

[James Regan + 1,776]

4 minutes ago, SKEP said:

I expect oil to trade up on API Inventory report tomorrow.  

Just closed at $54.53.  Could trade $56 + intraday

 

While the API numbers are very unreliable and not even remotely indicative of world Inventory numbers it's all we have to trade off of. If everyone continues to trade of this number gotta go along .  Can't fight it.

Be careful. It's reported that we may see record exports ladt week. API doesn't report export numbers.  But if daily exports increased it will show up in lower Inventory numbers.  Showing greater decrease Inventory.  

EIA numbers more accurate.  Their export number included in second release at 1:30 pm Wednesday.

EIA numbers more accurate.  Their export number included in second release at 1:30 pm Wednesday

Accurate really let’s see , EIA are as accurate as a one legged man at an ass kicking competition.

Respect SKEP I will stop hassling you.

👊🏻👊🏻

 

[SKEP + 229]

10 minutes ago, James Regan said:

EIA numbers more accurate.  Their export number included in second release at 1:30 pm Wednesday

Accurate really let’s see , EIA are as accurate as a one legged man at an ass kicking competition.

Respect SKEP I will stop hassling you.

👊🏻👊🏻

 

LOL.  Good answer.

True  but they are better than API which are downright scandalous. 

James do you still work in oil industry ?

Edited August 12, 2019 by SKEP

[James Regan + 1,776]

1 hour ago, SKEP said:

LOL.  Good answer.

True  but they are better than API which are downright scandalous. 

James do you still work in oil industry ?

Yes passionately 

[Boat + 1,323]

Have you guys actually went to the EIA web site and read their explanation and methodology? The talk in detail how they get their numbers. They also explain from time to time how projections get skewed. It’s not like producers are faithful and Johnny on the spot with their reporting. Much of the EIA report is made from estiments from historical data. Not current data which sometimes takes months to surface. Check a report and follow the data and you will see revisions. Just the way it is.