US EIA weekly oil inventories +1580K vs -2500K expected


Weekly crude oil inventories from the EIA:

  • Prior was +2385K
  • Gasoline -1412K vs +615K expected
  • Distillates –1934K vs +874KK expected
  • Cushing -2540K

API data released yesterday:

  • Crude +3700K
  • Gasoline +3750K
  • Distillates -1300K

The market wasn’t really ‘expecting’ -2500K after the API data yesterday. With the fall in gasoline inventories, you could argue this is a bit more bullish.  The initial move in WTI has been minor.

ForexLive



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