oil pumpjack collage
  • Prior was -2032K
  • Gasoline -1022K vs -561K expected
  • Distillates -3155K vs +129K expected
  • Refinery utilization +1.2% vs +0.8% expected

Private data released late yesterday:

  • Crude +4287K
  • Gasoline -1374K
  • Distillates -3675K

WTI crude oil was down 13-cents to $63.58 ahead of the data. It recovered from earlier lows after data showed Kazakhstan reduced output in April.

This update is a drag for oil prices but there is strong product demand, evidently.

Source: Forex Live