Weekly US oil inventory data
- Prior was 3522K
- Gasoline +309K vs +900K expected
- Distillates -2083K vs +1000K expected
- Cushing +346K vs -735K prior
API data released late yesterday:
- Crude -3608K
- Cushing +917K
- Gasoline +5565K
- Distillates -3006K
This is a bullish report and oil is challenging to top end of the recent range. It’s quickly up to $62.03, a 50-cent rise.