- Prior was 3254K
- Gasoline stocks +3498K vs +71K exp
- Distillates stocks -1295K vs +1169K
- Refinery utilization -1.2% vs +0.2% exp
This is more-bullish than the API data late yesterday but crude oil is at the lows of the day at $102.00.
API data late yesterday:
- Crude +1860K
- Gasoline +1290K
- Distillates -2153K
The SPR drew down another 5 million barrels. I think the market is focused on poor implied demand for US gasoline with this report. There was a thought it was skewed much lower by a US holiday in last week's data but it didn't bounce much in this report.
