- Prior was +515K
- Gasoline +1297K vs +2548K exp
- Distillates -2798K vs -1260K exp
- Refinery utilization -0.4% vs -0.4% exp
API data from late yesterday:
- Crude -872K
- Gasoline +2400K
- Distillates -2200K
The four-week rise in US gasoline inventories is the largest since the start of the pandemic but the oil market doesn't care. A report today from Energy Intel suggested that OPEC+ thinks the recent rise in crude is geopolitical and I have a hard time arguing against that.
