The inventory data from the private survey is out now, official data follows Wed. morning (US time).

oil inventory gasoline distillate stocks 10 May 2023

The build is the largest seen since February of this year.

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22 oil inventory gasoline distillate stocks 10 May 2023.jpg

Expectations I had seen centred on:

  • Headline crude -0.9 mn barrels
  • Distillates -0.8 mn bbls
  • Gasoline -1.2 mn

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This data point is from a privately-conducted survey by the American Petroleum Institute (API):

  • It's a survey of oil storage facilities and companies

The official report is due Wednesday morning US time. The two reports are quite different. The official government data comes from the US Energy Information Administration (EIA):

In the wake of the SPR release, from the US and some Asian countries