Weekly US oil inventories from the EIA
- Prior was -562K
- Gasoline inventories -1192K vs +400K expected
- Distillate inventories +3095K vs +600K expected
- Refinery utilization +1.4% vs +0.5% exp
- Cushing +27K vs -26K prior
The larger draw isn’t a huge surprise given that API reported a 4.8m rundown in inventories. Other numbers from API:
- Gasoline -718K
- Distillates -1877K