- Prior was+192
- Gasoline -6075K vs -2136K expected
- Distillates -4494K vs -2194K expected
This is a massive drawdown in inventories and shows that the world is turning to US oil to fill in the gaps. Today’s story is a fresh jump in oil prices with WTI up $5.08 to $105.05 per barrel. For the first time, December WTI is also above $80 as the US met with oil executives today and talked about a months-long siege of Iran.
API data from late yesterday:
- Crude -1790K
- Gasoline -8470K
- Distillates -2600K
This article was written by Adam Button at investinglive.com.
