Crude oil inventories draw -2.032M versus an estimate -0.833M draw

• Crude oil inventories -2.032 million versus estimate -0.833 million. The non-public API knowledge launched late yesterday confirmed a draw of -4.49 million
• Gasoline inventories construct of +0.188 million versus drawdown of -1.600 million estimate.
• Distillates inventories draw of-1.107 million versus estimate of -1.271 million.

Beneath are the weekly API stock knowledge launched late yesterday:

Crude oil is buying and selling down $0.46 at $58.62. The excessive value right this moment reached $60.22. The low value is at $58.59. Wanting on the hourly chart, the value is approaching its rising 100 hour shifting common of $58.26. Earlier right this moment, the value moved above its 200-hour shifting common (inexperienced line within the chart beneath) presently at $59.70. It additionally prolonged in regards to the 50% midpoint of the transfer down from the April 23 excessive. That degree is available in at $60.08. Nonetheless, momentum in regards to the 50% midpoint degree and the pure resistance at $60, pale pretty rapidly.

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