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Thursday, July 07, 2016

EIA US weekly oil inventories -2223K vs -2500K expected

  • Prior was -4053K
  • Gasoline -122K vs -350K exp
  • Distillates -1574K vs +500K exp
  • Cushing -82K vs -400K exp
The private numbers released yesterday showed a 6700K draw in oil supplies but traders are finding it difficult to reconcile those numbers with reports of only a 181K draw from Cushing, according to Genscape.
The private numbers had also show large draws in gasoline and distillates which weren't reflected in the official data.
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