US weekly EIA oil inventories -9362K vs -2000K expected

Weekly inventories from the EIA

• Prior was -4689K
• Gasoline -4320K vs -3050K expected
• Distillates -1675K vs -1000K expected
• Refinery utilization -5.3% vs -4.3% expected

API data from late yesterday:

• Oil -6360K
• Gasoline -5760K
• Distillates -1420K
• Cushing -237K

Oil was struggling today ahead of the day but jumped to $42.60 from $42.30 on the headlines. The consensus certainly missed some of the hurricane impacts.