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Private oil survey data shows huge headline crude draw, MUCH larger than expected

The inventory data from the private survey is out now, official data follows Wed. morning (US time).This is the largest weekly draw in this survey in at least 40 years. Expectations I had seen centred on:Headline crude -1.4mn barrelsDistillates +0.1mn bblsGasoline -1.3mn--This data point is from a privately-conducted survey by the American Petroleum Institute (API):It's a survey of oil storage facilities and companiesThe official report is due Wednesday morning US time. The two reports are quite... Read More

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Posted: Aug 1 2023, 20:38

Author Name: forexlive

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