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EIA weekly US crude oil inventories +3165K vs -1275K expected

  • Prior was -1952K
  • Gasoline +1299K vs -1650K expected
  • Distillates +518K vs +518K expected
  • Production 13.1 mbpd vs 13.1 mbpd prior
  • Implied mogas demand: 8.715Mbpd

API data late yesterday showed:

  • Crude +9337K
  • Gasoline -4437K
  • Distillates +531K

WTI crude oil was 36-cents lower ahead of the data but has perked up slightly afterwards.

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

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