Private oil storage data numbers due at 4:30 pm ET

The main factors for the $2.5% drop in oil today:

  1. Libya talked about peace
  2. Saudis said the budget was fine on $45 Brent
  3. Technical break of the trendline since November

The final one on the list could be the release of API inventory data shortly.

Here is the consensus for tomorrow's official data:

  • Crude -3055K
  • Gasoline +1771K
  • Distillate +1549K
  • Cushing -1150K