Crude Sinks Even Though US Stockpiles Fall More then Expected

by Tim Bonett, KPI Bridge Oil
Wednesday September 23, 2015

US crude stockpiles fell by more than three times the expected amount yet it wasn't enough to keep prices afloat.

The official end of the summer driving season is in the rearview mirror and gasoline inventories spiked to a level well north of expectations.

Meanwhile, total domestic production increased slightly and Chinese manufacturing data was uninspiring allowing the market to turn the other cheek to crude inventories.

Bunker prices were softening in the primary ports.