Weekly US crude oil inventories:
– Prior was +2620K
– Gasoline inventories +1660K vs -950K expected
– Distillate inventories +1436K vs +1020K exp
– Refinery utilization -0.6% vs -0.5% exp
Note that the +1450K "expected" number almost certainly wasn’t the true market expectation. Yesterday’s API oil inventories showed a massive, 7300K inventory drawdown and that led to a spike in oil prices.
