US weekly energy inventory and production data
- Prior was -3429K
- Cushing -2753K
- Gasoline +6780K vs +2555K exp
- Distillates +1667K vs +1100K exp
- Refinery utilization +1.2% vs +0.33%
- Production +0.3% w/w
- Production 9.707mbpd vs 9.682mbpd
- Production up 11.6% y/y
Here were the API report highlights yesterday:
The market is unsure what to do with the headlines. The crude number is tighter but that's a whole bunch of gasoline going into inventories. Much of it mirrors the API report, although it's a bit more bullish. However WTI is basically unchanged at $56.88 on the data.
