API crude oil inventories +4.2m bbls vs approx +2.8m exp

API crude oil inventories data:

This data is out to API subscribers at 4.30pm ET and released publicly at 4.35pm ET

  • US weekly crude stocks: +4.2m bbls
  • US weekly refinery capacity utilization
  • Weekly crude stocks at Cushing -162,000bbls
  • US weekly crude imports 103k bbls per day
  • US weekly distillate stocks +746k
  • US weekly gasoline stocks +408k

The API data is closely watched as its thought to give an idea of the EIA data due tomorrow morning (US time).

The EIA is expected to show an inventory build of 2.8m bbls (2.78182m ... but I rounded it)

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As I update, WTI is off a few cents

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