API data 19 February 2015 - weekly crude stocks up 14.3million barrels

Hitting oil hard with WTI down more than $1 since the numbers to $50.61.

Expectations would have been for something like 3.05mln barrel build in stockpiles .... so at 14.3 million, much greater. It means tomorrow's official EIA data is highly likely to show stocks at a fresh record.

The rest of the API data:

  • Gasoline stocks up 1.3m vs -0.25m expected in EIA data
  • Distillates down 2.7m vs -1.19m expected in EIA data
  • Stocks at Cushing up 3.1m barrels

It's a tough data point to trade because subscribers get it 5 minutes early.

Update: Fresh stops as yesterday's low of $50.81 breaks.