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.

oil chart