The private weekly oil inventories data show greater than expected draw downs: Sources

Crude oil see drawdown of -5.087 MM barrels.The weekly oil inventory change numbers from API are showing:

The DOE estimates are showing expectations of lower drawdowns. The data will be released at 10:30 AM ET/1430 GMT tomorrow:
Their estimates show:

  • Crude oil -2.1MM
  • Gasoline -1.25MM
  • Distillates -2.5MM

The price of crude and gasoline moved higher after the report was released.  Article Source

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