Crude oil inventories for November 1, 2019 week
A much larger build crude oil inventories
- crude oil inventories 7929K vs 2000K estimate
- gasoline inventories -2828K vs -2000K estimate
- distillates inventories -622K vs -1250K estimate
- Cushing OK crude inventories 1714K vs 1572K last week
- US refinery utilization -1.7% versus 0.73% estimate
- crude oil implied demand 17544 vs 18482 last week
- gasoline implied demand 10153.3 versus 10435.9 last week
- distillates implied demand 5269.9 versus 5275.4 last week
The big surprises the crude oil inventory which came in much higher than expectations and even above the better-than-expected private data last night.
The private API data showed:
- Crude +4260K
- Gasoline -4000K
- Distillates -1600K
The WTI crude oil futures has moved back down toward unchanged levels at $57.30 currently. It was trading at $57.71 shortly before the report. The price has been moving up and down in trading today with a low of $56.75 and a high of $57.85
