Crude oil inventories for July 31 -7.373M vs -3.335 est.
Crude oil inventories for July 31
- crude oil inventories -7.373M vs -3350M estimate. The drawdown is a little lower than the 8.587 from the private data last night
- gasoline 0.419 million vs. -0.500M estimate
- distillates 1.591M vs 0.986M estimate
- Cushing 0.532M vs 1.309M last week
- crude oil implied demand 18063 vs. 17762 last week
- gasoline implied demand 9386.6 vs. 9250.1 last week
- distillates implied demand 4812.7 vs. 4859.1 last week
- US refinery utilization 0.10% vs. 0.20% estimate. Last week 1.6%
The price of crude oil after a brief dip is back trading near high levels for the day at $43.41. That's up $1.71 or 4.12%. The high for the day reached $43.52. The 200 day moving average is currently at $43.92. The price of the September contract is not traded above its 200 day moving average since February 20 and has not closed above its 200 day moving average since January 22.