Crude Futures on Hold with EIA announcing more builds than Saudi Arabia

The past week has been a tale of two halves, with initial strength at the beginning of the week taking futures out of oversold sight, all for the EIA to come back with a vengeance (prime Batman style) and announce back-to-back US Crude stock builds making futures look like ‘Jokers’, whilst forcing Crude’s hand back into oversold territory. In turn, RBOB and gasoil futures began to nosedive faster than Space X’s latest rocket launch, leaving them lingering just above the oversold mark.