EIA weekly US oil inventories -2508K vs -543K expected

• Crude -2508K vs -543K exp
• Gasoline -235K vs +537K exp
• Distillates -45K vs +824K exp
• Production 13.1mbpd vs 13.1 mbpd prior
• Refinery utilization +1.9% vs +0.7% exp

Oil was trading at the lowest since February a short time before the report but was trading at $77.29 immediately before. Prices edged higher immediately after the numbers.

The private data late yesterday showed:

• Crude -3104K
• Gasoline -1269K
• Distillates +349KJ
• Cushing -601K

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