EIA US crude oil inventories data report week ending 3 June 2016
Prior -1366k
Last night's API -3560k
Cushing -1363k vs -671k exp. Prior -704k
Gasoline 1010k vs -2000k exp. Prior -1492k
Distillate 1754k v s-700k exp. Prior -1255k
Refinery utilisation 1.1% vs 0.6% exp. Prior 0.1%
Production 8.745m vs 8.735m prior
Production up a touch is worth noting and the build in gasoline is a surprise as we head to driving season.
WTI took a quick tumble to 50.80 but is back at 51.15. That quick turnaround might be a good indication that we're going to push higher now we've cleared the data.
US oil inventories