WTI crude oil was trading up $1.43 to $77.47 ahead of the release, that's a session high.
- Prior was -7227
- Distillates vs -470K expected
- Gasoline vs -1001K expected
Private data from late yesterday:
- Crude -8330K
- Gasoline +2479K
- Distillates -500K
US weekly oil inventories thru June 5
This is the third consecutive large draw in US crude inventories and the largest combined three-week draw on record. No wonder Trump was in a rush to make a deal with Iran.
