Weekly US crude oil inventories -4856K versus minus 1500K estimate
DOE weekly inventory data for the week of November 29
- crude oil draw of -4856K versus -1500K estimate
- gasoline build of 3385K versus estimate build of 1750K
- distillates build of 3063K versus estimate build of 250K
- Cushing OK crude draw -302K versus -97K last week
The price of crude oil is currently at $58.18. That is a little changed from the premarket levels. The price did rise to a new session high at $58.33 but has retreated back to the downside and near pre-release levels.
The private estimates released near the close yesterday also showed a bigger than expected draw of -3720. It also correctly estimated a larger than expected gasoline build. So perhaps the numbers were more or less baked in the cake.
Below are there numbers: