Crude oil inventories for Nov 1 week 7929K versus 2000K estimate

Crude oil inventories for November 1, 2019 week

A much larger build crude oil inventories
  • crude oil inventories 7929K vs 2000K estimate
  • gasoline inventories -2828K vs -2000K estimate
  • distillates inventories -622K vs -1250K estimate
  • Cushing OK crude inventories 1714K vs 1572K last week
  • US refinery utilization -1.7% versus 0.73% estimate
  • crude oil implied demand 17544 vs 18482 last week
  • gasoline implied demand 10153.3 versus 10435.9 last week
  • distillates implied demand 5269.9 versus 5275.4 last week
The big surprises the crude oil inventory which came in much higher than expectations and even above the better-than-expected private data last night.