US weekly EIA oil inventories

  • Prior was -4302K

  • Gasoline +1250K vs +300K expected

  • Distillates inventories +6163K vs +1750K

  • Refinery utilization +1.00% vs -0.50%

  • Production 10.9mbpd vs 11.0mbpd prior

The API numbers yesterday showed a huge draw in crude.

Little reaction initially in the energy market.