- Prior was -7056K
- Gasoline -27K vs -1464K expected
- Distillates -661K vs +766K expected
- Refinery utilization +0.3% vs +0.0% expected
- Implied gasoline demand 8.43m vs 9.35m last week
- SPR draw of 8.1m vs 3.4m prior
- Exports hit a record 11.076 mbpd
API data released late yesterday:
- Crude -5632K
- Gasoline +268K
- Cushing +679K
- Distillates +1051K
WTI crude oil was trading at $94.10 just before the data was released.
oil 15 min chart
If you add the SPR draw to the headline, it's more than 11 million barrels. But what might get the market's attention is another soft implied gasoline demand reading.
