API: crude oil inventories fall 2 mln barrels

API crude oil inventories data:

Note - This data is out to API subscribers at 4.30pm ET and released publicly at 4.35pm ET - that's why you saw that jump in the oil price at 4.30pm ET

• US weekly crude stocks: -2 mln bbls for the week ended May 8
• Weekly crude stocks at Cushing -827,000 bbls

The API data is closely watched as its thought to give an idea of the EIA data due tomorrow morning (US time).

-

Note - Ryan had this earlier today - Livesquawk-ForexLive US Crude oil Inventory Report: Cushing oil inventories to fall -99.49k w/e 8 May

Check it out!