Weekly DOE data for week of October 21
Cushing -1.334K vs -300K est
Gasoline -1956K vs -1000K est
Distillate -3354K vs -1500K est.
US refinery utilization 0.6% vs 0.60% estimate
The price of Crude oil futures has recovered to $49.75 currently (high extended to $49.89) on the drawdowns.
Looking at the hourly chart, the price is back above the old floor at the $49.70 area.
