Private oil survey data shows a larger than expected build in headline crude oil inventory

I posted the survey expectations here:

• Oil - heads up for the inventory data due around the bottom of the hour

Numbers via Zero Hedge:

I would not read too much into this headline build being larger than expected - its relevant but not going to be a big market mover. As economies begin to reopen there should be a higher demand for oil, and the build should have smaller than was reported, so it is a minor negative for the price (but only minor).