Oil - American Petroleum Institute (API) data - Inventories fall 5.6 mln bbls

American Petroleum Institute (API) crude oil inventory data, for the week ended January 1

• U.S. crude inventories fell by 5.6 million barrels
• Crude stocks at Cushing up by 1.4 million barrels
• Gasoline stocks rose by 7.1 million barrels
• Distillate fuels stocks rose by 5.6 million barrels

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

The API data is closely watched as a guide to the U.S. Energy Information
Administration (EIA) data due tomorrow morning (US time). The consensus estimate for tomorrow's EIA report is currently for +654.55K barrels (i.e. an adding to inventory)