- Prior was +1165K
- Gasoline -1134K vs -1863K expected
- Distillates +138KK vs --1038K expected
- Refinery utilization +0.2% vs -0.3% expected
These numbers read bullish for oil but refineries ran harder and the market would have already factored some of this after the API numbers, released late yesterday:
- Crude -3835K
- Gasoline +1840K
- Distillates +1927K
The EIA has been criticized for data quality lately due to large adjustment factors. They're working on fixing the methodology but largely blamed condensate counting for the issue.
WTI was trading at $76.55 ahead of the data, down $1.04.
