US weekly crude oil inventories +5431K vs -1200K expected

Author: Adam Button | Category: News

Weekly oil inventories from the EIA

  • Prior was -3963K
  • Gasoline -1123K vs -350K exp
  • Distillates +84K vs -719K exp
  • Cushing +1805K
  • Production 12.1mbpd vs 12.2mbpd prior
From the API report late yesterday:
  • Crude +8600K
  • Cushing +1200K
  • Gasoline +567K
  • Distillates +2200K
The report is negative for oil but not nearly as bad as the API numbers had indicated. The closure of the Houston shipping channel on the weekend worked in mysterious ways.

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