- Prior was -240K
- Gasoline -719K vs +1606K
- Distillates -2853K vs +688K
- Refinery utilization unchanged vs +0.5% exp
- Cushing -4584K vs -240K prior
API data released late yesterday showed:
- Crude -815K
- Gasoline +426K
- Distillates +1016K
- Cushing +2257K
Just ahead of the report, WTI crude was trading down about $1 to $69.64 but these are some bullish numbers across the board and it's back just above $70. Oil levels in the US SPR are at the lowest since 2002 and will continue to decline due to the recently-announce release. However that will turn into buying in the summer.
oil daily pre-release
