EIA weekly US crude oil inventories -9910K vs +1500K expected

Weekly inventory data

  • Prior was +4352K
  • Gasoline +2469K vs +1300K expected
  • Distillates -815K vs -500K expected
  • Refinery utilization -0.8%
That’s a big draw in the headline and oil has jumped to $52.85 from $52.45.
Private data from API yesterday:
  • Crude -5272K
  • Gasoline +3058K
  • Distillates +1398K
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