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EIA weekly US oil inventories -4156K vs -1950K expected

  • Prior +1825K
  • Gasoline +2022K vs -450K expected
  • Distillates +2544K vs -150K expected
  • Refinery utilization +2.6% vs +0.3% expected

The headlines was a bigger draw but the product numbers were bearish, particularly when factoring in yesterday’s API data, which showed:

  • Crude -6490K
  • Gasoline -452K
  • Distillates +2045K
  • Cushing -1706K

This article was written by Adam Button at www.forexlive.com.

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