US weekly crude oil inventories +3355K vs +3000K expected

Weekly crude oil inventories for the week ending January 31, 2020:

  • Prior was +3548K
  • Gasoline -91K vs +1800K
  • Distillates -1512K vs -200K exp
  • Refinery utilization +0.2% vs +0.15% exp
  • Production 12.9 mbpd vs 13.0 mbpd prior
Here is what API numbers showed late yesterday:

  • Crude +4180K
  • Cushing +960K
  • Gasoline +1960K
  • Distillates -1780K
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