American Petroleum Institute (API) crude oil inventory data
- Oil inventory build of 2.6 mln barrels
- Cushing draw of 319K barrels
- Gasoline -1.94 mln bbls
- Distillate -95K bbls
The survey expectations for the headline number was a build of 3.2mln barrels, so the 2.6mln (2.642mln to be more precise) bbls result is below expectations
-
Note - This data is out earlier to API subscribers (at 4.30pm ET) and released publicly at 4.35pm ET.
- The API data is closely watched as a guide to the U.S. Energy Information
Administration (EIA) data due tomorrow morning (US time) - The consensus estimate for tomorrow's EIA report is currently for a stock build of 2822.22K barrels (i.e. an adding to inventory)
