Weekly energy inventory data from the EIA
- Prior was +1854K
- Distillates +269K vs -1000K expected
- Gasoline +44K vs +1000K expected
- Refinery utilization +0.3% vs +0.4% exp
Yesterday's API data showed a 6360K draw in oil inventories but that appears to be a big whiff. Oil is down to $57.57 from 54.75 but I might have expected a bit more selling given the difference compared to API.
Other API numbers yesterday:
- Gasoline +869K
- Distillates -1670K
On net, total inventories are also higher than forecast.
- Production 9.658mbpd vs 9.645mbpd prior
- Production +0.1% w/w
- Production +11.1% y/y
