Weekly petroleum inventory data from the EIA:
- First draw since January
- Crude -745K vs +4000K expected
- Gasoline -3513K vs -2500K expected
- Distillates +3511K vs +3000K expected
- Cushing -3002K vs +2068K a week ago
This is a surprise and it’s boosted WTI back to $26.00.
Late yesterday, the private data from API showed:
- Crude +7600K
- Gasoline -1911K
- Distillates +4712LK
- Cushing -1000K