The weekly inventory data from the EIA shows:
crude oil inventories -0.515M vs. 2.300M estimateGasoline inventories -2.707M vs 0.600M estimateDistillates inventories -0.977M vs -1.595M estimateCushing 0.681M vs -0.346M last weekCrude production 13.5 million barrels versus 13.5 million barrels previously.
The private data released late yesterday showed:
Crude oil is trading at $68.19 ahead of the release.
The current prices trading at $68.32 after the report
This article was written by Greg Michalowski at www.forexlive.com.
