Weekly US oil inventories and production:
- Prior was +1215K
- Gasoline -1673K vs -1728K
- Distillates +249K vs -500K
- Refinery utilization +0.80% vs +0.50% expected
- Production 11.0mbpd vs 10.5m last week
The API numbers were out late yesterday:
- Crude +1750K
- Gasoline -3860K
- Distillates -2610K
The oil market doesn’t like these gasoline and distillate numbers. WTI is at the lows of the day: