American Petroleum Institute (API) crude oil inventory data result

Build of 1.5 million bbls (vs. estimates of a 3.4ml build)

  • Cushing +471K
  • Gasoline draw of 1.2 mln barrels
  • Distillates draw 800K 830K

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Note - The American Petroleum Institute data is out earlier to their subscribers (at 4.30pm ET) and released publicly at 4.35pm ET.

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Oil price is higher on the smaller than expected build in stocks