EIA weekly US oil inventories -6147K vs -3000K expected

Weekly oil inventory data from the EIA

• Prior was +5836K

• Gasoline -2328K vs -1092K exp

• Distillates -101K vs +550K exp

• Refinery utilization -0.5% vs +1.0% exp

• Production unchanged at 11.000 mbpd

Here was the API data

WTI prices bound around on the headlines in a range from $68.60-$68.90. There have been some big moves in crude on the heels of this report over the past two weeks.