The US experienced some of the largest crude oil inventory draws in decades over the past three weeks, which begs the question why is this occurring at a time when domestic production is soaring? Here’s a hint, summer driving season and refining fundamentals might be playing a role. [Sober Look]
What do you do when you have time off from working in the Midwest US oil fields? Girls’ roller derby, of course! Don’t miss the “Bakken Beatdown,” where teams representing Montana will look to roll their rivals from neighboring North Dakota in the “1st Annual Gals Roller Derby Grudge Bout.” [Bakken Oil Business Journal]
High-speed trading firms come under scrutiny from the Financial Industry Regulatory Authority (FINRA). The regulator wants high-speed traders to test their systems and algorithms to limit market manipulation and programming malfunctions that cause multi-million dollar errors in seconds. “Regulators have been focused on these issues since one trading firm, Knight Capital, lost nearly $500 million, and nearly went bankrupt, after its trading programs went haywire last August.” [NYT Deal Book]
