EIA weekly US crude oil inventories -600K vs -2348K expected

<ul><li>Prior was -708K</li><li>Gasoline -786K vs -1678K expected</li><li>Distillates -245K vs -301K expected</li><li>Refinery utilization -0.9% vs +0.1% expected</li><li>Production estimate mbpd 12.2 mbpd vs 12.3 mbpd prior</li><li>Impld mogas demand: 8.94mbpd vs 8.86mbpd prior</li></ul><p>The API data released late yesterday:</p><ul><li>Crude +1319K</li><li>Gasoline -1043K</li><li>Distillates +1614K</li></ul><p>These numbers are better than the API data but still below the consensus and it's the time of year where you would expect to be seeing larger draws. Oil is lower on the data.</p>

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