- Prior was +4488K
- Gasoline +2746K vs +880K expected
- Distillates +5057K vs +1328K expected
- Refinery utilization +2.7% vs +0.6% expected
- Production estimate 12.4 mbpd
Refineries ran hard last week in an attempt to build product inventories ahead of driving season.
API data released late yesterday:
- Crude -1710K
- Gasoline +2417K
- Distillates +4500K
The SPR released 1.8 million barrels last week with mandated sales continuing through month-end (and then nothing scheduled until 2026).
WTI was at the highs of the day at $72.86 just ahead of the release.
WTI crude daily
Here are inventory levels, via CIBC. You can see gasoline and distillates very low, similar to last year.
