Weekly Crude oil inventories 3.291M vs 2.225M estimate

Private data showed a 3.59M build for crude

The EIA is now with their weekly inventory data. This comes after the private data showed crude oil inventories showed a higher build of 3.59M while gasoline inventories showed a draw of -0.55M (vs -1.33M est).

• Crude oil inventories 3.291M versus estimates of 2.225M
• Gasoline inventories 0.104M vs estimates of -1.33M.
• Distillates inventories 2.16M vs estimates of -1.443M
• Cushing inventories -0.916 M versus previous of -3.899M
• inventories in US strategic petroleum reserve off 1.6 million barrels to 612.54M
• refining utilization 1.200% versus expected 0.6%. Previous 0.4%
• crude oil production 11.5M versus 11.3M previously. +1.77%

The private data released near the close of trading yesterday showed:

• Crude oil +3.59M
• Gasoline -0.55M.
• Distillates, +0.57M.
• Cushing, -0.88M