- Prior was +10.231K
- Gasoline +2530K vs +2140K expected
- Distillates -242K vs +336K expected
- Refinery utilization vs -0.1% expected
- SPR -3.7m barrels
- Implied demand 20.924 mbpd
Private data released late yesterday offers a hint on how expectations shifted late:
- Oil -3069K
- Gasoline +4510K
- Distillates +830K
The US has done a remarkable job ramping up product supplies to thwart what looked to be a problematic winter shortage but the oil side could get interesting next year again as SPR sales finally end (and buying begins).
WTI rose on the headlines.
