• Prior was -5068K
• Gasoline -812K vs +1075K expected
• Distillates +2592K vs +1060K expected
• Cushing -1593K vs +256K prior

API data released late yesterday:

• Crude +1845K
• Gasoline +1821K
• Distillates vs +3376K
• Cushing vs -1839K

There is a bit of evidence of some loosening in the crude market here but it’s one week of data. Gasoline remains extremely tight with inventories 10% below the long-term average.