• Prior was +9382K
  • Gasoline -761K vs -976K exp
  • Distillates -2664K vs -829K exp
  • Refinery utilization +1.0% vs +0.8% exp

API data from late yesterday

  • Crude -4496K
  • Gasoline +2933K
  • Distillates -1652K

Oil was at the lows of the day before the report but rose on the headlines. Today is expiration for the May contract but all the volume has moved to June.

SPR stocks are at the lowest since 2002 and set to head much lower.