Weekly US energy inventory and production data
- Prior was +6805K
- Gasoline +1200K vs -1050K expected
- Distillates +1849K vs +1377K expected
- Cushing +772K vs 1643K prior
- Production 11.0 mbpd vs 10.9 mbpd prior
- Production +0.9%
- Refinery utilization flat vs -0.5% exp
API data yesterday:
- Oil -5170K
- Gasoline -930K
- Distillates +1800K
- Cushing +195K
Oil is lower on the headlines by about 40-cents. The draw was a bit larger than API but gasoline inventories showed a surprise build.
Update: Oil has ripped back higher to the best levels of the day, up $1.71 to $67.53.