Weekly US petroleum inventory data
- Prior was +2033K
- Gasoline -381K vs -600K expected
- Distillates +3461K vs -250K expected
- Refinery utilization +4.00% vs +1.50% expected
API data from late yesterday:
- Crude -9517K
- Gasoline +3762K
- Distillates -1123K
- Cushing -789K
The 'expected' on the headline is a bit misleading because the market moved on the API data yesterday. As a result, crude is lower on these headlines to $39.56 from $39.70 before the data. The build in distillates is also a disappointment.
