Weekly DOE inventory data show a large crude inventory build. Crude oil prices fall.
- Crude oil inventory 9934K vs 1750K est. Largest built since November 9, 2018
- Gasoline inventory 917K vs -950K est
- Distillates -1307K versus -750K
- Cushing 265K vs 463K last week
- US refinery utilization -0.9% versus +0.5% estimate
- DOE crude oil implied demand 18295 vs 18566 last week
- DOE gasoline implied demand 9916.1 versus 9955.3 last week
- DOE distillates implied demand 5377.7 versus 5403.6 last week
The price of crude oil has move lower and currently trades at $63.40 down $.51 or -0.82%
