Weekly US oil inventory data from the EIA
- Prior was +1912K
- Gasoline -1735K vs +700K expected
- Distillates +2542K vs +500K expected
- Refinery utilization +2.3% vs +1.7% expected
Private inventories released late yesterday but the API:
- Crude +3910K
- Gasoline -6012K
- Distillates +2595K
Tomorrow’s OPEC+ decision is the big driver of crude, which was up 11-cents to $60.66 before this report. It initially popped on the release but quickly came back.