The weekly oil inventory data will be released shortly. Expectations show:
- crude stocks drawdown of -1.565M
- gasoline stocks drawdown of -1.677M
- distillates drawdown of -1.500M
The private data released late yesterday showed a surprise build in crude stocks of 3.262 million. Gasoline stocks showed a drawdown of -1.09 million and distillates showed a drawdown of -1.84 million.
Crude oil is currently trading at $69.42.