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WTI drops on the back of sharp crude stocks build

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The US Energy Information Administration (EIA) has published its usual Summary of Weekly Petroleum data about an hour and half or so ago. The report wasn’t what the bullish oil speculators wanted to see and exactly what the sellers had hoped for as it shows US crude inventories rose by a large 4.8 million barrels in the week ending December 11, 2015. This is significantly more than a small drawdown expected and also more than a rise of 2.3 million barrels that had been reported by the American

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