oil
  • Prior was -2597K
  • Gasoline -1400K vs -2105K expected
  • Distillates -5200K vs -1914K expected
  • Cushing -585K vs -972K prior

API data released late yesterday:

  • Crude +2811K
  • Gasoline -1988K
  • Distillates -5485K
  • Cushing -367K

Gasoline demand is up 7.5% from a year ago and inventories in the US SPR were down by 2.5 million barrels week over week.

WTI crude oil was trading at $117.42 just ahead of the report and up to $118.42 afterwards as the huge volatility in crude continues.