Weekly energy stockpiles and production from the EIA
- Prior was -4432K
- Cushing -747K vs -500K expected
- Gasoline -2858K vs -1500K expected
- Distillates +394K vs -700K expected
Late yesterday, API reported:
- Crude -8670K
- Gasoline -1730K
- Distillates +124K
So it's not quite as big of a draw as API reported for crude but add in gasoline and it's basically there.
Crude isn't doing much on the headlines. It's ticked up to $48.65 from $48.50, one of the reasons might be the continued march higher in production.
- Production +0.2% w/w
- Production 9.342 mbpd vs 9.320 mbpd prior
- Production up 6.9% y/y
