EIA oil inventory data shows a +9.382M build vs +0.863M estimate

  
  Analysis

The weekly EIA oil inventory data shows:

  • oil inventories build of 9.382M versus +0.863M estimate
  • gasoline inventories drawdown of -3.649M versus-0.388M estimate
  • distillates drawdown of -2.902M barrels versus -0.515M estimate
  • Cushing saw a build of 0.450M vs last week build of 1.654M
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