Weekly US energy inventories and production data
- Prior was -2683K
- Gasoline +4050K vs +3000K
- Distillates -617K vs +900K
- Refinery utilization -1.7% vs -0.9%
- Production unchanged at 11.9 mbpd
API numbers from late yesterday:
- Crude +6550K
- Gasoline +3640K
- Distillates +2570K
- Cushing +360K
The initial reaction in crude has been minimal, suggesting that the market priced in the huge build after yesterday's API report.