- Crude oil inventories +3.036M vs -0.275M estimate
- Distillates 0.714M vs 0.725M estimate
- Gasoline -0.792M vs -0.693M estimate
- Cushing inventories 0.045M vs last week 0.453M
The private estimates released late yesterday showed:
.
So there was a bias for crude to the upside but the build was much higher.
The price of crude oil is now trading down around $0.23 at $62.90. The bias remains to the downside below its 100 day moving average at $64.77
Visit investingLive.com to stay informed on real-time market data and analyses needed for strategic decisions.
