Weekly EIA US crude oil inventories:
- Prior was +2412K
- Gasoline -228K vs +600K exp
- Cushing -201K
- Refinery utilization -3.4% vs -0.5% exp
There was a big drop in refinery runs and that's what is responsible for the build. But it doesn't matter because the wheels are falling off in stock markets. WTI is down to a fresh low at $52.73, breaking the September low.
API numbers late yesterday:
- Crude -5920K
- Gasoline +2133K
- Distillates -1741K
- Cushing +373K
