Forex News

US weekly EIA crude oil inventories -3115K vs +367K expected

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  • Prior was +2588K
  • Gasoline -1257K vs -1358K expected
  • Distillates +427K vs -560K
  • Refinery utilization +1.7% vs +0.5% expected
  • Cushing +1267K
  • Production 11.9 mbpd vs 12.0 mbpd prior
  • SPR draw of 1.9m
  • Implied demand at 20.481 mbpd, down 106K w/w
  • Gasoline demand -270K bpd
  • Implied mogas demand: 8.66Mbpd

API data released late yesterday:

  • Crude -6.530MM (+267k exp)
  • Gasoline -2.640MM
  • Distillates +865K
  • Cushing +883K

WTI crude oil is up 20 cents on the day and largely unchanged since the data.