WTI Dips After Unexpected Crude Build, Gasoline Stocks Up Most Since Jan WTI Dips After Unexpected Crude Build, Gasoline Stocks Up Most Since Jan Oil prices rebounded from midday weakness to close at 2-month highs with WTI at $120 after Goldman hiked its crude price forecasts and rebounding demand hopes from China “The true fundamentals in crude, gasoline and diesel remain bullish, although prices have risen a bit too far too fast,” said Dennis Kissler, senior vice president of trading at BOK Financial. The Energy Information Administration revised down their forecasts for gasoline consumption in its latest monthly report, but as long as inventories remain so far below the 5-year average it’s extremely bullish, he said. For now, the next leg will depend on inventory data tonight and tomorrow''s demand signals. API Crude 1.845mm (-2.2mm exp) Cushing -1.839mm Gasoline 1.821mm Distillates 3.376mm A more worrisome set of data from API with crude stocks building unexpectedly along with products seeing inventories rise (gasoline stocks up by the most since January) Source: Bloomberg Does this suggest demand destruction is beginning?