The data from the private survey ahead of official government oil stock data

The private data is being reported on twitter:

The DOE estimates for the inventory data to be released tomorrow show:

  • Crude oil +3112.46K
  • Gasoline -1878.92K
  • Distillates -1448

There is no estimate for Cushing, but that is a huge build. Inventories last week showed a build of 1371K.

The price of crude oil is trading up at $66.49 despite the higher build. The price settled at $66.18. Looking at the hourly chart below, the 100 hour MA is at $66.91. The NY session high stalled against that level and sold off. A move above should be more bullish with the 200 hour MA at $67.71 another target.