- Prior was +5521K
- Gasoline -3658K vs -1160K exp
- Distillates -1915K vs -1600K exp
- Refinery utilization -1.8% vs +2.6% exp
- Manufacturing mbpd 13.3 mbpd vs 13.3 mbpd
- Impld mogas demand: 8.17 mbpd vs 8.81 mbpd prior
Personal oil inventories from late yesterday:
- Crude +8520K
- Gasoline -7230K
- Distillates -4016K
- Cushing +512K
Oil costs have initially shrugged this off, which is shocking. Final at $83.12, up 35-cents on the day. While you zoom out, US inventories are on monitor to finish winter beneath final yr’s ranges.
This text was written by Adam Button at www.forexlive.com.
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