US EIA oil inventories week ending 6 January 2017
Prior -7051k
Cushing -579k vs 300k exp. Prior 1074k
Gasoline 5023k vs 2750k exp. Prior 8307k
Distillates 8356k vs 2600k exp. Prior 10051k
Refinery utilisation 1.60% vs 0.15% exp. Prior 1.0%
Production 8.946m vs 8.770m
A bigger build than expected slams WTI down to 50.75 Another big build for Gas and distillates. What's also of note is the big jump in production, highest for 20 months.
US oil production
Blimey, in the time it's taken to add the chart we've bounced back to 51.68. More Trump anticipation?