EIA US weekly oil inventories +90K vs -450K expected

Weekly oil inventory data

  • Prior was +594K
  • Gasoline +92K vs -50K expected
  • Distillates -3342K vs -1244K expected
  • Refinery utilization +0.40% vs +0.25% expected
  • Production estimate  10.9 mbpd vs 10.9 mbpd prior

API data from late yesterday:

  • Crude +4319K
  • Gasoline -1288K
  • Distillates -2417K
WTI has been on the move to the upside in the last two days. It’s up $1.05 to $64.01 today.