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.