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US EIA weekly oil inventories -4715K vs -2750K expected

US EIA weekly oil inventories -4715K vs -2750K expected

News
Adam Button
22/12/2021 | 15:29 GMT
  • US petroleum inventory data
  • Prior was -4585K
  • Crude -4715K vs -2750K expected
  • Gasoline +5533K vs +467K expected
  • Distillates +396K vs +33K expected

API data from late yesterday:

  • Crude -3670K
  • Gasoline +3710K
  • Distillates -849K
  • Cushing +1272K

Ahead of the report, WTI crude was trading at $71.51, up 40 cents on the day. There was little movement after the report as the bullish surprise in crude was offset by the bearish build in gasoline supplies.

There have been reports of high gasoline demand this week though.

Update: Oil now at the highs of the day:

WTI

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