US oil production pumpjack archigram
  • Prior +1825K
  • Gasoline +2022K vs -450K expected
  • Distillates +2544K vs -150K expected
  • Refinery utilization +2.6% vs +0.3% expected

The headlines was a bigger draw but the product numbers were bearish, particularly when factoring in yesterday's API data, which showed:

  • Crude -6490K
  • Gasoline -452K
  • Distillates +2045K
  • Cushing -1706K