- The API last night reported a whopping inventory build of more than 11M barrels, and the EIA this morning more than 8M.
- Black gold is lower by 4.1% to a six-week low $50.94 per barrel.
- Bloomberg takes note of 220K puts traded on the U.S. Oil Fund (USO -4.2%) today vs. the 20-day average of 47K. Call volume today is 57K.
- The XLE is down 1.9% this session vs. the Dow and S&P 500 flat.
- ETFs: USO, OIL, XLE, UCO, VDE, ERX, OIH, SCO, XOP, BNO, DBO, ERY, DIG, DTO, UGA, USL, DUG, BGR, IYE, IEO, FENY, DNO, PXE, FIF, OLO, PXJ, UHN