US EIA crude oil inventories February 11, 2015
- Fresh record in crude oil inventories
- Oil inventories rose 6333K last week to a record at the time
- Gasoline +1977K vs +100K exp
- Distillates -3252K vs -987K exp
- Refinery utilization +0.10% vs -0.09% exp
- Cushing inventories +1214K
The
market was likely poised for a lower build because data from the API
showed weekly crude stocks up 1600K. That led to a brief spike in oil
prices yesterday but crude has since reversed and was down $1.33 to
$48.69. Prices immediately fell another 40 cents after the release.
