US EIA weekly crude oil inventories +3019K vs +3000K expected

The weekly US oil report

  • Prior was -1616K
  • Gasoline +2483K vs +600K exp
  • Distillate -960K vs -950K exp
  • Cushing -1218K vs -2664K prior
  • Production +0.1% m/m
  • Production 10.283 mbpd vs 10.270 mbpd prior

Here were the API numbers

It’s more bearish than the API numbers and crude dropped on the headlines, falling to $62.50 from $63.10.

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