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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Crimson Ghost who wrote (29317)5/4/2005 12:53:23 PM
From: mishedlo  Read Replies (2) of 116555
 
Rude Crude
marketwatch.com

The Energy Department said U.S. crude inventories rose 2.6 million barrels for the week ended April 29, which places supplies above the upper end of the average range for this time of year. They're also the highest since the end of March 2002.

Meanwhile, the American Petroleum Institute said crude supplies were up 10.2 million barrels last week.

"The API's crude-oil inventory number is coming out of field," Flynn said. "I don't know where you'd put 10 million barrels of oil."

So we have a 400% variance between crude inventory changes between the two major entities that watch and report on the supply situation. That's just great...
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