EIA weekly US crude oil inventories -3728K vs -700K expected

  • Weekly oil inventory data from the EIA
oil pumpjack
  • Prior was -3436K
  • Gasoline +1340K vs -986K expected
  • Distillates +949K vs +241K expected
  • Refinery utilization +0.4% vs +0.8% expected
  • Production 13.4mbpd vs 13.3mbpd prior

WTI crude oil was up $1.40 ahead of this data and has slightly extended its gains since.

API data late yesterday showed:

  • Crude +180K
  • Gasoline +3310K
  • Distillates +1220K
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