WTI crude prices managed to scramble back up to pre-API-tumble levels ahead of DOE’s data dump this morning with all eyes on gasoline inventories, which did not disappoint showing a small draw (in line with expectations) along with crude’s draw which was roughly in line with API and expectations. Production continues to rise to highest since July 2015.
API
Crude -3.595mm (-3.5mm exp) Cushing -462k (+300k exp) Gasoline +1.402mm (-1mm exp) Distillates +2.048mm DOE
Crude -3.33mm (-3.5mm exp) Cushing -503k (+300k exp) Gasoline -1.22mm (-1.25mm exp) Distillates +28k
This post was published at Zero Hedge on Aug 23, 2017.
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