Looking at the weekly EIA oil inventory data showed a large drawdown of crude oil stocks. Gasoline toys fall. Distillates rise modestly:
- Crude oil inventories -7.863M versus estimate drawdown of -2.942M
- Distillates, build of 0.372M vs expected drawdown of -1.072M
- Gasoline drawdown -1.548M vs estimate drawdown of -2.096M
- Cushing drawdown of -1.604M vs a drawdown of -1.702M last week
Weekly crude oil inventories fall -7.863M vs -2.942M estimate
