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SZO - U.S. Crude Storage Will Show Counter-Seasonal Draw In October
DB Crude Oil Short ETN
Welcome to the counter-seasonal edition of Oil Markets Daily!
There appears to be a lot of confusion on today's EIA weekly oil storage report, so we wanted to publish this along with our expectations for October for clarity sake.
For starters, EIA did not count ~500 to ~600k b/d of exports last week. The cut-off date for the vessels was on the 26th and 27th of September and for those of you that are aware of the EIA reporting standards, the cut-off time is Friday morning. So if the vessels left on Friday, this may