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What do you make of the inventory build reported by API?"Data...

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cmonaussie

10,838 Posts.

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28/05/20

20:07

Post #: 44903696
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Originally posted by tt2000: ↑

Yepp it "should" get done, I'm convinced, as is everyone on here - but that's what scares me.

Just because we assume it will happen doesn't mean that it will.

Someone once told me assumptions are the mother of all f-ups. Very true.

I don't like that we could be in default (which could result in ch11) by close of trading tomorrow now.

Will rest much better once our foregone assumption is a fact.

PS - EIA report is actually out tonight. I'm hoping to see 18m oil demand in US (which for me gets us to $40 oil).

Demand was 16.6 last week, 16.8 the week before.

I think it can be done, not that it will impact us in anyway until this amendment is agreed

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What do you make of the inventory build reported by API?
"Data released by API highlighted a rise in US crude inventories by 8.7 million barrels in the week that ended on 22 May. "

SEA Price at posting: 16.5¢ Sentiment: None Disclosure: Held
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