API crude oil inventories data for the week ended June 12
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 its thought to give an idea of the EIA data due tomorrow morning (US time).
The 'expected' for the data from EIA tomorrow is -1.5 mln bbls for US Crude Oil Inventories
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Those trading the oil price would have seen the gap up (around 20 or so cents) at 4.30pm (when the data is out to subscribers), and the subsequent retrace.
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ps. I'm trying to track down the detailed data from this release and will update if an when I have it
- Crude inventories fell by 2.9 million barrels (week ended June 12)
- Crude stocks at Cushing rose by 329,000 barrels
- Gasoline stocks fell by 2.9 million barrels
