The weekly inventory data from the American Petroleum Institute
- US weekly crude stocks up 8.9 mln bbls for the week to February 20
- Weekly gasoline stocks off 1.6 mln bbls
- Weekly distillate stocks off 2.4 mln bbls
- Weekly crude imports off 88,000 bpd to 7.98 mln bpd
- Weekly refinery capacity utilization off 1.4 pct at 87.3 pct
- Weekly crude stocks at cushing up 2.4 mln bbls
Crude inventories up more than expected
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Note - this data comes out to subscribers at half-past the hour (so 5 minutes ago ...) ... and note too oil fell then ... (update: and has since recovered, WTI barely changed)
Anyway, its out on the wires now and I'll fill in the details ASAP.
This data is is viewed by analysts as a forerunner to more widely watched data released at 10:30am (US east coast time ... so 1530GMT) Wednesdays by the federal Energy Information Administration (EIA):
- the expected for tomorrow's is up 3.66 mln bbls
It really is worth noting that last week the API figures did not give an accurate glimpse of the following day's EIA data. Nor did it the week before. Hey, third time's a charm, right? (And 3 strikes and yer out, too :-D ).
