EIA Crude Inventories

As usual, Wednesday, 10:30 the EIA petroleum report comes out. This week we had a build over the prior week, hmmm... I wonder why?

Released On 9/19/2012 10:30:00 AM For wk9/14, 2012

Prior Actual Crude oil inventories (weekly change) 2.0 M barrels 8.5 M barrels Gasoline (weekly change) -1.2 M barrels -1.4 M barrels Distillates (weekly change) 1.5 M barrels -0.3 M barrels

From 2 mm barrels to 8.5 mm barrels this week. What changed since last week in the world? More specifically, the Middle East?

USO's initial reaction...

USO breaks intraday support, volume surges and then back above it.

Crude Futures are putting in their first positive divergence since this morning's clear negative divergence sending Crude lower with a  higher $USD.