Oil data highlights:
- Prior 1294K
- Gasoline -2135K vs -673K exp
- Distillates +395K vs +1063K
- Refinery utilization -1.1% vs +0.5%
Oil prices rallying after the numbers. The algos sold on the headline but the API numbers had forecast a 5.5m barrel build so this really shouldn't have been a surprise. WTI quickly up to $57 from $56.05.
