Crude oil inventories due at the bottom of the hour

Private data showed a mix

Yesterday near the close, the private weekly crude oil inventory data showed:

  • Crude oil inventories -2.6 million barrels
  • Gasoline inventories +4.55M barrels
  • Distillates +2.81M barrels

The EIA data will be released at the bottom of the hour with expectations showing

  • Crude, -1.436M
  • Gasoline -0.221M
  • Distillates +0.486M

Last week:

  • refinery utilization came in at 2.3%. The expectations or 0.75%
  • Crude oil demand was 17370
  • Gasoline demand was 9431.1
  • Distilates demand +4815.9

The data can be very volatile. The current price of WTI crude oil futures are trading down $0.20 or -0.32% at $59.12. The high price reached $60.04. The low price extended to $58.65 so far today

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