API crude oil inventories
- US weekly refinery capacity utilization up 1.2 pct at 91.1 pct
- Weekly crude stocks at Cushing up 1.2 mln bbls
- US weekly crude imports up 267,000 bpd to 7.96 mln bpd
- US weekly distillate stocks off 331,000 bbls
- US weekly gasoline stocks up 2.7 mln bbls
- US weekly crude stocks up 12.2 mln bbls
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Note - this data comes out to subscribers at half-past the hour (so 5 minutes ago ...).
Oil fell from half past the hour, when the data hit for subscribers and has continued lower.
This data is is viewed by analysts as a forerunner to more widely watched data released at 10:30am (US east coast time ... so 1430GMT) Wednesdays by the federal Energy Information Administration (EIA).
Prior to this release expectations for thre EIA figure was for around an inventory build of 3.2 million barrels - so this data coming in at a build of 12.2 million barrels is well above expectations... hence the fall in the oil price:
Note, from yesterday: Goldman Sachs sees 'modest upside risk' to oil prices over the next 3 months
- Goldman sees modest upside to $40/bbl forecast over the next three months; sees downside risk to 2016 (WTI) forecast of $65/bbl (more at that link)