Weekly US oil stockpile data from the Energy Information Administration:
- Prior was +7562K
- Gasoline -1518K vs -1000K exp
- Distillates -2622K vs -1100K exp
- Refinery utilization +0.4% vs -0.5% exp
Yesterday's API inventory report showed a 7100K build so it's not a huge miss one where the market was expecting but inventories are getting to ridiculous levels. Oil is going much, much lower.
