Weekly energy inventory data from the EIA:
- Prior crude -9499K
- Cushing vs -310K prior
- Gasoline +3565K vs -2400K expected
- Distillates +5686K vs -1000K expected
- Production -300K bpd
- Refinery utilization -0.3% vs -0.3% exp
This was expected to be a noisy report due to shutdowns surrounding Tropical Storm Barry. The numbers show some major builds in products. WTI initially dipped on the headlines but has recovered.
Private data released late yesterday:
- Crude -1401K
- Cushing -1115K
- Gasoline -476K
- Distillates +6226K
Oil fell on yesterday's headlines.