DOE crude inventory data for the current week of August 21, 2020
- WTI crude oil futures traded at $43.59 just before the release
- crude oil inventories -4.689M vs. -2.587M estimate
- gasoline inventories -4.583M vs -1.750M estimate
- distillates +1.388M vs -0.050M estimate
- Cushing -0.279M vs -0.607M last week
- crude oil implied demand 17386 vs. 16663 last week
- gasoline demand 9780.4 vs. 9437.9 last week
- distillates demand 5052.7 vs. 4768.3 last week
The private data released new the close yesterday showed crude inventories -4.524M and gasoline -6.392M. The crude oil data was close to the API data.
The price of crude oil is currently trading at $43.62. That is only $0.03 higher than the pre-release levels. The high price reached $43.78 today while the low price stalled at $43. Technically, the price has moved further above its 200 day moving average at $43.25. Yesterday that moving average was broken for the 1st time since February 20. Staying above the moving average would be more bullish.
Below are the private data from the API released near the close of day yesterday
