Forex News

US weekly EIA oil inventories +2588K vs +1029K expected

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  • Prior was -1725K
  • Gasoline -1478K vs -805K expected
  • Distillates +170K vs -1138K expected
  • Refinery utilization -0.6% vs +0.3% expected
  • SPR draw of 3.4m vs -3.4m expected
  • Implied oil demand 20.587m vs 20.761m prior
  • Gasoline implied demand +252k bpd

API data released late yesterday:

  • Oil +4520K
  • Gasoline -2278K
  • Distillates +635K

WTI crude oil is having a solid day today, up $1.50 to $86.84 and is largely unchanged after the data.