EIA weekly US oil inventories -4491K vs -300K expected

<ul><li>Prior was +10176K</li><li>Gasoline -2371K vs -1097K expected</li><li>Distillates -3185K vs -1360K expected</li><li>Refinery utilization +0.4% vs -% expected</li><li>Implied mogas demand 8.94m vs 8.58m prior</li><li>Domestic production 13.2 mbpd vs 13.2 mbpd prior</li></ul><p>December WTI crude oil was trading up $1.27 to $86.73 ahead of the data. This is bullish and distillate inventories are particularly tight.</p><p>Late yesterday, the API reported:</p><ul><li>Crude -4383K</li><li>Gasoline -1578K</li><li>Distillates -612K</li><li>Cushing -10005K</li></ul>

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