US EIA weekly crude oil inventories +2442K vs +833K expected

• Prior was -3326K
• Gasoline -1767K vs -858K expected
• Distillates +4219K vs +600K expected
• Refinery utilization +0.6% vs 0.0% expected
• Implied gasoline demand 8.50m vs 8.73m last week
• SPR draw of 8.414m vs 7.5m prior (8.4m expected)

API data from late yesterday:

• Crude +6040K
• Gasoline -3230K
• Diistillates +1750K

WTI crude oil Crude Oil Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, Read this Term was trading at $88.45 just ahead of the day and about 15-cents higher afterwards.

The build in distillates is a surprise given the call on diesel in Europe right now due to gas-to-oil switching. It's welcome news because US diesel inventories are extremely tight.