Weekly US petroleum inventory data:
- Prior was -745K
- Cushing -5587K
- Gasoline +2830K vs -2900K exp
- Distillates +3832K vs +1429K
- Production estimate 11.5 mbpd vs 11.6 mbpd
The headline is bullish for oil but there was a small slump on the headlines, likely owing to that build in products.
API data from yesterday:
- Crude -4800K
- Cushing -5000K
- Gasoline -651K
- Distillates +5100K
