Traders thought Apple had ‘the holy grail’ of oil data, but the quest continues
Every day, energy merchants collect and scrutinize whatever information they can find on fuel demand to get a trading edge: from satellite data tracking oil tankers worldwide to thermal images from cameras on pipelines and storage tanks.
Real-time data on fuel demand would be the ultimate prize.
On-the-spot gasoline consumption figures would change the way oil markets trade, because it is “the holy grail of metrics,” said Patrick DeHaan, head of petroleum analysis at GasBuddy.
A few weeks ago, the market thought it had found it. In mid-April, Apple Inc unveiled new data tracking human mobility trends, capturing user activity in searching for directions on smartphones.
