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EIA weekly crude oil inventories -1425K vs -901K expected

  • Gasoline +5086K vs +1664K exp
  • Distillates +3235K vs +1373K exp
  • Refinery utilization -0.9% vs -0.5% exp

Don’t led the headline fool you, those product builds are negative. That said, they were flagged in the private inventory data released late yesterday that showed:

  • Crude +499K
  • Gasoline +2852K
  • Distillates +2452K

WTI was strong ahead of the report, up 99 cents to $69.57.

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

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