Source post
CL1 $76.95 -9.4% | Brent $79.85 -8.6% on the week. USO -10.8% | BNO -10.7% XLE -5.9% | XOP -6.2% What this means: Crude and energy equities sold off together, which is the cleaner sign of a broad risk-off or softer-demand read.
Follow-up context
See signals before the move ->
Crude and energy equities sold off together, which is the cleaner sign of a broad risk-off or softer-demand read.
More notes in the system
Wednesday EIA Check
Commercial US crude stocks are at 734.0 MMbbl (-9.3 w/w). SPR sits at 325.7 MMbbl, putting total crude stocks at 1059.7 MMbbl. Commercial: 734.0 MMbbl (-9.3 w/w) SPR: 325.7 MMbbl (-5.5 w/w) Know if the inventory move is real ->
Monday Setup
WTI M1-M2 is sitting at 0.28$/bbl with a +0.13 move over the last five sessions. WTI M1-M2: 0.28$/bbl 5-session move: +0.13 In plain terms: Prompt structure is positive but not extreme, so the balance read is constructive without screaming shortage. See signals before the move ->
Friday Wrap
CL1 $71.64 +4.9% | Brent $76.72 +7.2% across the main crude-linked proxies. USO +4.8% | BNO +4.1% XLE +3.0% | XOP +3.1% See signals before the move ->
