Oil inventories and production due at the bottom of the hour
Weekly US energy inventories are due at the bottom of the hour with crude oil inventories expected to contract.
Here's the consensus:
Oil -3500K
Gasoline +2250K
Distillates +1850K
Prior production 11.2 mbpd
However I wouldn't put much stock into those estimates after yesterday's API data:
Crude -10180K
Gasoline -2484K
Distillates +712K
WTI crude is trading up $0.46 to $52.11 after touching as high as $52.88.
