Weekly oil inventories and production from the EIA

  • Prior was -8945K
  • Gasoline -1223K vs -1250K exp
  • Prior +22K
  • Distillates +28K vs 0K exp
  • Prior +702K
  • Cushing -503K vs +678K prior
  • Production 9.528mbpd vs 9.502mbpd prior
  • Production +0.3% w/w

API numbers released yesterday:

  • Crude -3595K
  • Gasoline +1402K
  • Distillates +2048K
  • Cushing -462K

Oil climbed 25-cents and then fell right back down to $47.70, which is down 10-cents on the day.