Weekly oil inventories
- Prior was -9910K
- Gasoline +4467K vs +1500K exp
- Distillates -9K vs -500K exp
- Refinery utilization +0.6% vs +0.2% exp
- Production 10.9 mbpd vs 10.9 mbpd prior
Oil is quickly down to $55.67 from $55.90 before the report. There was a big jump in imports from Canada to 4.238mbpd, a record. That's not likely to be repeated.
API numbers from late yesterday:
- Crude -4261K
- Cushing -1885K
- Gasoline -240K
- Distillates -1622K
