DOE crude oil inventories
The crude oil inventory showed a lesson expected build in inventories. Gasoline inventories at a greater than expected drawdown, while distillates showed a greater than expected build.
The numbers are showing:
- crude oil inventories 4590K vs 8800K estimate
- gasoline inventories -3158K vs 1000K estimate
- distillates 9518K vs 3000K estimate
- Cushing 2068K vs 3637K last week
- US refinery utilization 0.9% versus 0.4% estimate and 2.0% last week
- crude oil implied demand 16956 versus 16118 last week
- gasoline implied demand 7195.1 versus 6764.3 last week
- distillates implied demand 4058.3 versus 4489.6 last week
Overall better demand this week and lower builds/supply.
WTI crude oil futures are trading around $24.00 or -2.4%. The high price reached $26.08 while the low extended to $22.58 and volatile trading.
FYI the private data from the API show the following last night:
