US EIA weekly crude oil inventories -4089K vs -2928K exp

Author: Adam Button | Category: News

US petroleum inventory data from the EIA

  • Prior was +2108K
  • Gasoline -2253K vs -916K exp
  • Distillates -3088K vs -435K exp
  • Refinery utilization -0.3% vs +0.4% exp
Late yesterday the API numbers were:
  • Crude -4728K
  • Gasoline -6226K
  • Distillates -1882K
  • Cushing -126K
The gasoline draw wasn't going to be as high as the API data but the distillate draw is a surprise. Airlines are telling pilots to conserve fuel by flying lower so that's a sign of demand. Driving data also suggests strong US gasoline pulls going forward.

WTI is up about 15-cents in the aftermath of the release:
crude

Invest in yourself. See our forex education hub.
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose