Crude oil inventories show a build up 5987K versus 2800K expected

Author: Greg Michalowski | Category: News

Weekly crude oil inventories

US crude oil inventories for the current week showed a build up 5987K versus 2800K expected. The build although higher than the estimates was still lower than the surprise 9750K build shown in the private data released at the end of yesterday's trading.

The price of crude oil was trading at $71.59 before the release. It currently trades at $71.72.

other data shows:
  • Gasoline 951K versus 0K estimate. Last week minus 459K
  • distillates -2666K versus -2000K estimate. Last week minus 1750K
  • Cushing 2359K versus 1699K last week
  • refinery utilization -1.6% versus -0.5% expected.  Last week 0.0%
  • crude oil implied demand 17742 versus 17926 last week

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