API crude oil inventories -3.2mln bbls

API crude oil inventories data for the week ended June 19

Note - This data is out earlier to API subscribers (at 4.30pm ET) and released publicly at 4.35pm ET

The consensus estimate for Wednesday's EIA report is a drawdown of 1.34m barrels

• Crude inventories fell by 3.2 million barrels (Reuters survey had the expectation at a decrease of 2.1 million barrels)
• Crude stocks at Cushing fell by 2 million barrels

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The larger than expected draw has had very little impact on the oil price - a bit of a wiggle on the futures and that's about it