Crude oil inventories for the week ending Oct 7 • Prior was -2976K • Gasoline inventories -1907K vs -900K exp • Prior gasoline +222K • Distillate inventories -3746K vs -1200K exp • Prior distillates -2359K API reported a 2700K build in oil supplies, according to sources. They also estimated a gasoline draw of 688K barrels and distillates down 4520K. The kneejerk reaction in crude has been lower on the strong headline draw. An interesting skew in the report is that the EIA is removing lease stocks from inventories. They are being reclassified because they're not available for commercial use. (full story)