WTI down today - demand destruction or inventory play?

asked by u/stefanivanov · 1mo · 2 answers

Seeing $WTI at 74.27, a -2.08% dip. Curious about others' read. Is this primarily driven by the API/EIA inventory expectations, or are we seeing more significant signals of demand destruction playing out? Especially with global manufacturing data still looking soft.

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Top answers

  • u/vsiddiqui· 14 pts· 1mo

    I'm leaning more towards inventory play short-term, especially with the usual volatility around the API/EIA releases. Demand destruction is a longer-term theme, but the immediate dip feels very much like position adjustments.

  • u/vsiddiqui· 2 pts· 1mo

    Could be both, honestly. The soft manufacturing data provides a backdrop for demand concerns, making any inventory build seem more impactful. It's tough to disentangle the two in daily moves.