US weekly EIA oil inventories -5085K vs +500K expected
From news.forexlive.com
US weekly oil data from the Energy Information Administration: • Prior was +2629K • Gasoline inventories +10,576K vs +1800K exp • Prior gasoline inventories +925K • Distillate inventories +6308K vs +200K exp • Prior distillates +1795K • Refinery utilization -0.1% vs -0.33% exp • Prior refinery utilization +1.3% The +500K 'expected' number is an illusion after yesterday's API data, which showed a 5600K drawdown. The Bloomberg whisper estimate was -4100K. API forecast gasoline stocks to rise 7100K, which may balance out the bullish crude data. The massive builds in gasoline and distillate might curb any excitement ...
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