14.07.2016 - Uncertain Oil Traders Look to Clashing Stockpile Data for Signs
Oil traders don’t know who to follow these days. Weekly inventory reports that help set prices for crude futures come primarily from two sources: The industry-funded American Petroleum Institute and the U.S. government’s Energy Information Administration. In six of the past 10 weeks, however, the data reported by the two groups has differed by at least 2 million barrels, with the gap for the week ended May 6 at 6.9 million. That week, the API showed a stockpile gain while the EIA saw a decline, one of eight weeks this year with diametrically opposed results...............................................Full Article: Source
Print