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