Crude oil inventory -4143K last week

Crude oil had a much higher draw in the current week:

  • Crude oil -5914K vs -2500K estimate(Bloomberg estimate)
  • Gasoline +3277K vs -1000K estimate
  • Distilates 2715K vs -600K estimate
  • Cushing -1296K vs -6867K last
  • crude oil supply demand 19987 vs 19591 last week
  • gasoline implied demand 9928.7 vs 10486.1 last
  • distillate implied demand 5129.1 vs 5515.1

The price of crude oil is currently trading at $65.95, up $0.88 or 1.35%. The price spike to $66.29 on the higher draw but has moved back down.