Weekly US oil inventories +2927K vs +1900K expected

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Weekly oil inventories from the EIA

  • Prior was +3104K
  • Gasoline -1213K vs -900K exp
  • Distillates -3943K vs -2000K exp
  • Refinery utilization -0.7% vs +0.35% exp

The API numbers released late yesterday:

  • Crude +4130K
  • Gasoline -5940K
  • Distillates -3980K
  • Cushing +1240K

WTI ccrude was trading up 54-cents to $53.17 per barrel ahead of the data and has ticked a few cents lower afterwards.

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