US EIA weekly oil inventories for the week ending Jan 6 +18,962K vs -2243K expected

• Prior was +1694K
• Gasoline +4114K vs +1186K expected
• Distillates -1069K vs -472K expected
• Production estimate 12.2 mbpd vs 12.1 mbpd
• SPR draw 800K (already reported)
• Implied demand 17.627 mbpd
• Implied mogas demand 7.55 vs 7.51 mbpd prior

The huge build was due to refinery closures because of cold weather. 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 $76.00 ahead of the report and dipped to $75.70 before turning higher; that's not the reaction I would have expected.

The consensus numbers in this report probably wasn't what the market expected after this was in the private data released late yesterday:

• Crude +14,865K
• Gasoline +1800K
• Distillates +1100K