US EIA oil inventories week ending 6 January 2017

  • Prior -7051k
  • Cushing -579k vs 300k exp. Prior 1074k
  • Gasoline 5023k vs 2750k exp. Prior 8307k
  • Distillates 8356k vs 2600k exp. Prior 10051k
  • Refinery utilisation 1.60% vs 0.15% exp. Prior 1.0%
  • Production 8.946m vs 8.770m

A bigger build than expected slams WTI down to 50.75 Another big build for Gas and distillates. What's also of note is the big jump in production, highest for 20 months.

US oil production

Blimey, in the time it's taken to add the chart we've bounced back to 51.68. More Trump anticipation?