EIA weekly US oil inventories -17049K vs -1367K expected

<ul><li><a href="https://www.forexlive.com/news/eia-weekly-us-crude-oil-inventories-600k-vs-2348k-expected-20230726/" target="_blank" rel="follow">Prior </a>-600K</li><li>Gasoline +1480K vs -1300K expected</li><li>Distillates -796K vs +112K expected</li><li>Refinery utilization -0.7% vs 0% expected</li><li>Production estimate 12.2 mbpd vs 12.2 mbpd prior</li><li>Impld mogas demand: 8.84 mbpd vs 8.94 mbpd prior</li></ul><p>API data released late yesterday:</p><ul><li>Crude -15400K</li><li>Gasoline -1680K</li><li>Distillates -512K</li></ul><p>I believe this is the largest weekly draw ever reported but it doesn't entirely come as a surprise after the API data reported late ysterday. WTI crude oil was down $0.67 to $80.89 ahead of the data.</p>

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