US weekly petroleum inventory report

  • Prior was -2549K
  • Gasoline +1745K vs +2814K expected
  • Distillates -1185K vs +2250K expected
  • Cushing -961K
  • Production 13mbpd vs 13mbpd prior

Here were the API numbers released late yesterday:

  • Crude +1570K
  • Gasoline +4500K
  • Distillates +3500K
  • Cushing -429K

The kneejerk in oil has been higher to $55.28.