EIA US weekly oil inventories -5960K vs -2320K expected

<p>Weekly US oil inventory is due at the bottom of the hour and the consensus is:</p><ul><li>Prior crude +5851K</li><li>Gasoline -261K vs -1260K expected</li><li>Distillates +296K vs -473K expected</li><li>Refinery utilization +0.9% vs +0.4% expected</li><li>Production estimate 12.7 mbpd vs 12.6 mbpd prior</li><li>Impld mogas demand: 8.85 mbpd vs 9.30 mbpd prior</li></ul><p>The API data late yesterday showed:</p><ul><li>Crude -6195K</li><li>Gasoline +700K</li><li>Distillates -800K</li></ul><p>US crude oil inventories are at the lowest since January but the US output estimate is at the highest in three years. WTI is down about 20 cents since the release.</p>

This article was written by Adam Button at www.forexlive.com.