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Title : API WIth Surprise: Huge Crude Oil Build -- Over 7 Million Bbls -- March 5, 2019 -- WTI Volatile But Holds Steady
link : API WIth Surprise: Huge Crude Oil Build -- Over 7 Million Bbls -- March 5, 2019 -- WTI Volatile But Holds Steady

API WIth Surprise: Huge Crude Oil Build -- Over 7 Million Bbls -- March 5, 2019 -- WTI Volatile But Holds Steady

WTI was volatile today but finished flat despite huge crude oil build reported by API. Data points:
another "surprise" build -- most over-used word by economists and analysts: "surprise"

• API: reported a large "surprise" build of 7.29 million bbls
• forecast: a build of 388,000 bbls (note the fake precision); 
• • A DOT-111 tank car carries upwards of 830 bbls
  • at 8,000 bbls we're talking ten tank cars; a unit train is 110 tank cars
• see write-up at ZeroHedge

Disclaimer: I often make simple arithmetic errors. Feel free to fact check.

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