American Petroleum Institute (API) crude oil inventories for the week to September 11
- US crude stocks show an inventory draw of 3.1 million barrels for the week
- At Cushing, crude stocks fell 1.5 mln barrels
I posted on the jump in the oil price at 4.30pm, 5 minutes before the public release and coinciding with the private release of the data
The big inventory draw was a surprise
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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 an inventory build of 1790Kbbls