Weekly US crude oil inventories -4856K versus minus 1500K estimate

Author: Greg Michalowski | Category: News

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:

API private data for the week of November 29

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