Weekly crude oil inventories from the EIA

  • Prior was -8496K
  • Gasoline +4437K vs -1250K expected
  • Distillates +1529K vs +450K expected
  • Cushing -1504K

API data released yesterday:

  • Crude -3430K
  • Gasoline -1100K
  • Distillates +1200K
  • Cushing -1600K

Oil didn't need this headline. Oil is back down to the lows of the day at $51.25, down $1.10 in a flash.