- Prior was -8263
- Gasoline +2064K vs -578K expected
- Distillates +3064K vs -505K expected
The report isn’t as bullish as the headline looks as product inventories grew almost as quickly as crude was drawn down. When you zoom out, there have been constant draws in US crude since April but that hasn’t mattered for oil prices.
Private data from API late yesterday:
- Crude oil -765K
- Gasoline +1238K
- Distillates +1447K
This article was written by Adam Button at investinglive.com.
SOURCE LINK : US EIA weekly crude oil inventories -6088K vs -4461K expected
