• Prior was +3500K
  • Gasoline -1644K vs +1623K expected
  • Distillates -929K vs -1739K expected
  • Refinery utilization +1.5% vs -0.3% expected

There have been better reports on US driving in the past week as omicron risks fade. Airline bookings have also jumped in a sign that the summer travel season could be busy. Oil jumped on the headlines and is back above $90.

1 hour chart:


API data released late yesterday:

  • Crude -2025K
  • Gasoline -1138K
  • Distillates -2203K
  • Cushing -2502K