DOE inventory data for November 10th

  • Crude oil +1.854M vs -2.4M estimate. Last week +2.237M
  • Gasoline +0.894M vs. -1.5M estimate. Last week 0.720M
  • Distillates -0.799 vs -1.8M estimate. Last week -3.359M
  • Cushing OK Crude -1.504M vs +0.720 last week.
  • Refinery Utilization 1.4% vs 0.85% estimate.

The private data release last night showed surprise builds in both Crude and Gasoline

US crude oil was trading at $55.10 before the release. It is currently trading at $55.16...little changed so far.