US EIA weekly crude oil inventories +3954K vs -1912K expected

<ul><li>Prior was -6307K</li><li>Gasoline +5560K vs +237K expected</li><li>Distillates +3931K vs +1303K expected</li><li>Refinery utilization +0.6% vs -0.4% expected</li><li>Production estimate 12.9 mbpd vs 12.8 mbpd prior</li><li>Impld mogas demand: 8.31 mbpd vs 9.32 mbpd prior</li></ul><p>That's a big drop in the weekly gasoline demand number but it's not a huge surprise given the usual post-Labor Day decline and the volatility in the numbers.</p><p>API data released earlier showed:</p><ul><li>Crude +1174K</li><li>Gasoline +4210K</li><li>Distillates +2592K</li></ul><p>WTI crude oil was down 16-cents before the data.</p>

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