Department of Energy will release weekly inventory data at the bottom of the hour

Crude oil is currently trading at $39.73, up $0.47 or 1.2%

the Department of Energy release their weekly inventory data at the bottom of the hour with estimates showing:

• crude oil -500 K vs. +1442K last week
• gasoline -1500K vs. -1673K last week
• distillates 500K vs 249K last week
• Cushing OK Crude came in at -991K last week

The private API data last night showed a larger than expected draw of -8156K last night. Gasoline inventories came in at -2459K. Distillates showed a build of 2638K.