Post #15872

Oil Pulls Back on Massive Crude Build, but Bulls Still Eye a Break Above 67 Oil is down 1.04% after fresh EIA data, but price is still holding near recent highs. For now, this looks more like a pullback within strength than a full breakdown. A clean close above 67 could keep upside momentum intact. The move lower followed a major inventory surprise: U.S. crude stocks rose 15.989M barrels (vs. 1.5M expected), the largest weekly build in three years. Cushing and distillates also increased, while gasoline stocks declined. On the geopolitical side, a Hezbollah official said the group would not intervene in limited U.S. strikes on Iran, easing some immediate supply-risk fears. Still, oil remains near seven-month highs as traders look ahead to U.S.-Iran nuclear talks in Geneva. Beyond the headlines, oil remains fundamentally supported. Momentum is still strong, and COT data continues to show institutional buying, with a +2.83% positive net change—a sign that big money is still flowing into oil. - Alan