US weekly energy inventory data
- Prior was +3291K
- Gasoline -1555K vs -1193K expected
- Distillates -2613K vs -1133K expected
- Refinery utilization +0.4% vs +0.8% expected
- Cushing -34K
API data released late yesterday:
- Oil -2485K
Oil is slightly lower after the release. It's been bounced around by US dollar volatility after the CPI report today. The risk is that the Fed hikes sooner and stifles growth, hurting oil demand.
