Weekly petroleum inventories
- Prior week was 13833K
- Gasoline +10497K vs +5550K exp
- Distillates +476K vs +1500K
- Refinery utilization -6.7% vs -2.15% exp
- Cushing +6417K
- Production 12.4 mbpd vs 13.0 mbpd prior
That’s a lot of oil going into storage in two weeks and Saudi cargoes are just starting to land.
API numbers from late yesterday:
- Crude: +11,938K
- Gasoline: +9445K
- Distillates: -177K