​WTI Holds Gains As ‘Tank Bottoms’ Loom After Big Draw At Cushing Hub – Tyler Durden

WTI Holds Gains As ‘Tank Bottoms’ Loom After Big Draw At Cushing Hub oil prices continued their recent rally off three-year lows this morning (rebounding from weakness overnight following the unexpected crude build reported by API) ahead of today’s FOMC decision and pushed higher by re-awoken geopolitical risk premium after Israel’s pager-op on Hezbollah prompted the start of retaliations. The weak preliminary inventory data from API and recent trends in product spreads are adding to concerns about demand in the US, said Robert Yawger, director of the energy futures division at Mizuho Securities USA. “If you don’t need the product, you…  — Continue at ZeroHedge News : Read More