Weekly crude oil inventory data shows build of 0.545M vs 0.138M estimate

The weekly EIA inventory data shows:

• Crude oil inventories build of 0.545Mvs build 0.138M estimate. Prior week +2.089 million
• Gasoline inventories build of 2.054M vs build 0.859M estimate. Prior week -4.407M
• Distillate inventories drawdown of -0.114M vs drawdown -0.020M estimate. Prior week -1.394M
• Cushing inventories drawdown of -0.140M vs. drawdown -0.688M last week.

The private inventory data released late yesterday showed:

Crude oil is trading at $69.21. That’s down marginally on the day.

This article was written by Greg Michalowski at www.forexlive.com.