EIA weekly US oil inventories -4389K vs +2074K expected

Author: Adam Button | Category: News

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.

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