Weekly oil inventory and production data from the US Department of Energy coming up next
- Prior was -1661K
Here's what API reported yesterday:
- Oil -2720K
- Gasoline +346K
- Distillates +1837K
- Cushing -1269K
Here is the consensus:
- Crude -1200K
- gasoline -579K
- Distillates +500K
Oil is in a very vulnerable spot as it treads near critical support just above $42.20. On the flipside, a strong reading could be the start of a relief rally.
