Weekly US oil inventory and production data
- Last week crude inventories fell 8647K
- Gasoline -4227K vs -1625K expected
- Distillates -2393K vs -1000K expected
- Production 12.1m vs 12.1 mbpd prior
API yesterday:
- Oil +7290K
- Gasoline -391K
- Disitllates -3100K
This report isn’t as bearish as the API numbers yesterday. Crude is bouncing on the headlines back to $55.80 from $55.55 beforehand.