Oil Faces a Serious Test Today

Oil prices have firmed recently thanks to improving U.S. economic data and a softer Fed outlook. However, the American Petroleum Institute (API) threw a monkey wrench into the machine Tuesday evening, when it reported a significantly larger build in crude oil inventory than was expected by forecasters. Investors will be watching intently for confirmation of the bad news when the Energy Information Administration (EIA) reports its data at 10:30 AM EST Wednesday. If oil inventory grew significantly by its account, and if it was not offset by gasoline and distillate draw, we could see energy prices tested. Now that the floor has been removed for oil by the Saudi Oil Minister’s comments, only hope in potential economic catalysts can soften the blow. See this full report on oil here.

Energy Relative Shares	03-01-16 After Hours
SPDR S&P 500 (NYSE: SPY)	+0.1%
United States Oil (NYSE: USO)	-1.1%
iPath S&P GSCI Crude Oil (NYSE: OIL)	-0.8%
Energy Select Sector SPDR (NYSE: XLE)	-0.6%
SPDR S&P Oil & Gas E&P (NYSE: XOP)	-1.6%
Market Vectors Oil Services (NYSE: OIH)	-1.1%
Exxon Mobil (NYSE: XOM)	-0.3%
Chevron (NYSE: CVX)	-0.3%
B.P. (NYSE: BP)	-0.3%
TOTAL S.A. (NYSE: TOT)	-1.0%
ConocoPhillips (NYSE: COP)	-0.3%
Phillips 66 (NYSE: PSX)	-0.5%
Occidental Petroleum (NYSE: OXY)	-0.2%
Schlumberger (NYSE: SLB)	-0.1%
Baker Hughes (NYSE: BHI)	+0.0%
Halliburton (NYSE: HAL)	-0.4%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only. Article interests energy investors including Exxon Mobil (NYSE: XOM), BP (NYSE: BP), PetroChina (NYSE: PTR), Petrobras (NYSE: PZE), Royal Dutch Shell (OTC: RYDAF.PK), Total (NYSE: TOT), Chevron (NYSE: CVX), Repsol (OTC: REPYY.PK), ConocoPhillips (NYSE: COP), Eni SpA (NYSE: E), Sasol (NYSE: SSL), Encana (NYSE: ECA), Suncor (NYSE: SU), Imperial Oil (AMEX: IMO), Statoil (NYSE: STO), Cenovus (NYSE: CVE), Transocean (NYSE: RIG), Penn West Petroleum (NYSE: PWE), Continental Resources (NYSE: CLR), Noble (NYSE: NE), Concho (NYSE: CXO), Diamond Offshore (NYSE: DO), Ensco (NYSE: ESV), Whiting Petroleum (NYSE: WLL), Nabors (NYSE: NBR), Pride International (NYSE: PDE), Helmerich & Payne (NYSE: HP), QEP Resources (NYSE: QEP), Enerplus (NYSE: ERF), Rowan (NYSE: RDC), Cobalt (NYSE: CIE), Patterson UTI (Nasdaq: PTEN), SandRidge (NYSE: SD), Schlumberger (NYSE: SLB), Halliburton (NYSE: HAL), National Oilwell Varco (NYSE: NOV), Baker Hughes (NYSE: BHI), Weatherford International (NYSE: WFT), Cameron (NYSE: CAM), FMC Tech (NYSE: FTI), Oil States International (NYSE: OIS), Superior Energy (NYSE: SPN), Carbo Ceramics (NYSE: CRR), Helix Energy (NYSE: HLX), Pioneer (NYSE: PXD), CNOOC (NYSE: CEO), China Petroleum and Chemical (NYSE: SNP), Ecopetrol (NYSE: EC), Canadian Natural Resources (NYSE: CNQ), Apache (NYSE: APA), Anadarko (NYSE: APC), Devon (NYSE: DVN), EOG (NYSE: EOG), Chesapeake (NYSE: CHK).