US weekly oil inventories are due at the bottom of the hour as the oil trade continues to work. WTI is up 86-cents to $82.08 at the moment. Natural gas is even hotter, up 8.3% today on colder weather forecasts.
The consensus for today's numbers are
- Crude -1904K barrels
- Gasoline +2408K
- Distillate +1757K
The API numbers late yesterday showed:
- Crude -1077K
- Gasoline +10860K
- Distillates +3035K
Even with those wildly-bearish numbers, the market didn't care. It's a sign of the incredible strength in crude so far this year.
