Latest weekly oil inventory data from the DOE
- Prior +10374k
- Last night's API +4.4m
- 1st Bloomberg estimate 3500k (revised after API no doubt)
- Cushing 690k vs 500k exp. Prior 1190k
- Gasoline -4526k vs -1500k exp. Prior -1468k
- Distilates -1119k vs +900k exp. Prior +2882k
Pretty much in line with expectations on the headline and the draw in gasoline will add to the bullish tone as WTI ticks higher to 37.71 from around 37.20. It's not ball busting news so we'll see if the move is sustained.
US oil inventories
