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EIA weekly crude oil inventories +515K vs +507K expected
Oil
- Prior was +2553K
- Gasoline -1958K vs -1595K exp
- Distillates -1851K vs -1180K exp
- Refinery utilization -0.4% vs +0.4% expected
Private inventories from the API late yesterday:
- Crude +2400K
- Gasoline -3010K
- Distillates -3160K
This is a decent report with some solid product draws. We're nearing the end of the inventory building season and the start of driving season. With all the international tensions, global consumers could be taking more road trips this summer.
Source: Forex Live
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