- Prior was -3326K
- Gasoline -1767K vs -858K expected
- Distillates +4219K vs +600K expected
- Refinery utilization +0.6% vs 0.0% expected
- Implied gasoline demand 8.50m vs 8.73m last week
- SPR draw of 8.414m vs 7.5m prior (8.4m expected)
API data from late yesterday:
- Crude +6040K
- Gasoline -3230K
- Diistillates +1750K
WTI crude oil was trading at $88.45 just ahead of the day and about 15-cents higher afterwards.
oil 1 minute
The build in distillates is a surprise given the call on diesel in Europe right now due to gas-to-oil switching. It's welcome news because US diesel inventories are extremely tight.