US weekly EIA oil inventories -1662K vs -1000K expected

Author: Adam Button | Category: News

US weekly oil inventory data

US weekly oil inventory data
  • Prior was +1320K
  • Gasoline -1745K vs -1100K expected
  • Distillates -3013K vs -2000K expected
  • Refinery utilization +0.70% vs +0.25% expected
  • Production estimate unchanged at 11 mbpd
  • Implied gasoline demand was up 2.8% w/w
API data released late yesterday:
  • Crude -439K
  • Gasoline -1986K
  • Distillates -5137K
Oil prices ticked slightly higher on the kneejerk reaction, to $65.71 from $65.52 just beforehand.

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