American Petroleum Institute (API) crude oil inventories for the week to September 4
- Stock build last week of 2.1 million barrels
- Refineries cut output
- Gasoline inventories and distillate inventories up
- Crude stocks at Cushing fell 1.1 million barrels
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Note - This data is out earlier to API subscribers (at 4.30pm ET) and released publicly at 4.35pm ET.
The
API data is closely watched as a guide to the U.S. Energy Information
Administration (EIA) data due tomorrow morning (US time).
The consensus estimate for tomorrow's EIA report is currently for +872.73Kbbls (i.e. an inventory build).
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note also. This data is normally out on Tuesday afternoon in the US but is a day later this week due to the holiday in the US on Monday of this week.
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Note - check out the moving oil price since 2030GMT - that'll give you an early heads up on the direction of the data prior to it being released publicly
