June 29, 2022

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EIA US weekly oil inventories +90K vs -450K expected

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Weekly oil inventory data

  • Prior was +594K
  • Gasoline +92K vs -50K expected
  • Distillates -3342K vs -1244K expected
  • Refinery utilization +0.40% vs +0.25% expected
  • Production estimate¬† 10.9 mbpd vs 10.9 mbpd prior

API data from late yesterday:

  • Crude +4319K
  • Gasoline -1288K
  • Distillates -2417K

WTI has been on the move to the upside in the last two days. It’s up $1.05 to $64.01 today.

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