Weekly US EIA crude inventories 0.833M build vs build of 0.987M estimate


The weekly oil inventories data shows:

  • Crude oil 0.833M vs 0.987M estimate
  • Gasoline + 2.310M vs -0.109M estimate
  • Distilates 2.308M vs 0.313M estimate

Other details:

  • Cushing -1.704M vs -1.142M last week
  • refining utilization w/e -0.5% versus expected -0.7%.
  • Crude production 13.3M vs 13.3M previous week

Crude oil was trading at $66.69 just before the release. The price is currently trading lower at $65.93.

The private data released late yesterday forecast a larger than expected drawdown of -2.79M

This article was written by Greg Michalowski at www.forexlive.com.



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