Latest inventory data from the DOE

  • crude oil inventories a drawdown of -884K vs +1500K estimate
  • Cushing OK crude inventories 2419K vs 153K est
  • US gasoline inventories 2097K versus 1500K
  • US distillates inventories 4957K versus 1500K eestimate
  • US refinery utilization -1% vversus+0.50% estimate

Although the crude oil inventories were down the other data shows stronger rises in inventories.

The Crude oil price is trading at $48.46, up $3.28