US weekly oil inventories +2206K vs -1000K expected

Author: Adam Button | Category: News

Weekly energy inventories and production data:

  • Crude vs -1000K expected
  • Cushing +2096K
  • Gasoline +764K vs +950K expected
  • Distillates -1000K vs +1100K expected
  • Refinery utilization +1.4% vs +0.55% expected
  • Production 12.3 mbpd vs 12.4 mbpd prior
Here's what API reported late yesterday:
  • Crude +4852K
  • Cushing +2365K
  • Gasoline +829K
  • Distillates -3461K
The headline is less-bearish than the API report and that led to a small pop in crude initially but the distillate number is worse than API and expectations and that reversed the move. WTI is at $51.71 compared to 52.10 beforehand.

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