Official weekly crude oil inventories from the US EIA
- EIA weekly US crude oil inventories vs 3250K expected
- Gasoline inventories -3204 vs -1400K exp
- Distillates +2238K vs +200K exp
- Cushing +526K vs +700K
- Production +0.2% w/w
- Production 8.512 mbpd vs 8.493 mbpd prior
- Production down 6.8% y/y
According to newswires reports, API crude inventories were -7497K, gasoline -2500K, distillates +1400K. So what was 'expected' from the consensus was heavily skewed and far closer to those numbers.
Oil hits an intraday high of $45.50, up 55 cents from before the report.