Crude oil inventories showed a build of 1.285M vs – 6.5M estimate

Crude oil inventories are congruent with the private data

  • crude oil inventories +1.285M vs. -6.5M estimate
  • gasoline inventories 0.012M vs -3.5M estimate
  • distillates -4.969M vs. -4.00M estimate
  • refinery utilization -14.5% vs. -7.0% estimate
  • crude implied demand 14115 vs. 17735 last week
  • gasoline demand 7723.9 vs. 8982.7 last week
  • distillates 46339 vs. 5424.9 last week
The price of crude oil for April delivery is trading at $63.04. The high price reached $63.09. That is a new cycle high. The high price yesterday reached $63