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EIA weekly US crude oil inventories +5851K vs +597K expected

EIA weekly US crude oil inventories +5851K vs +597K expected
Prior -17049K (a record draw)Gasoline -2661K vs -8K expectedDistillates -1706K vs +6K expectedRefinery utilization +1.1% vs 0.4% expectedProduction estimate 12.6 mbpd vs 12.2 mbpd priorImpld mogas demand: 9.30 mbpd vs 8.84 mbpd priorThis one is tough to square because refineries are running harder but inventories of products continue to fall. There is suspicion growing in the market that finished product inventories are headed to multi-year lows and commercial oil inventories are as well.API d... Read More
Posted: Aug 9 2023, 14:30
Author Name: forexlive
Views: 112586

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