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US EIA weekly crude oil inventories +3524K vs +288K expected

US EIA weekly crude oil inventories +3524K vs +288K expected

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Adam Button
3 hours ago
  • Weekly petroleum data from the EIA
pumpjack
  • Prior was +3715K
  • Gasoline -267K vs -75K expected
  • Distillates -4259K vs -294K expected

API inventory data from late yesterday:

  • Crude +7.36 million
  • Gasoline +2.99 million
  • Distillates -4.79 million

I take this as modestly bullish for crude on that big distillate draw. Yes, the crude number was negative but not as bad as API.

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