Oil - American Petroleum Institute (API) data - Inventory DRAW of 4.3mln barrels

American Petroleum Institute (API) crude oil inventory data

• Oil inventory drawdown of 4.3 mln barrels

• Cushing build 620K barrels
• Gasoline draw 116K bbls
• Distillate build 2.7mln bbls

A build in inventory was expected (of 3.2mln barrels), so the draw this past week is a surprise. Oil traded higher from 4.30pm ET.

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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)