EIA REPORT: Crude, Cushing, Gasoline Draw, Distillates Build, Production Sky HighEIA REPORT

This Weeks EIA Report

  • Crude  -6428K
    Cushing -747K vs -500K expected
  • Gasoline -2858K vs -1500K expected
  • Distillates +394K vs -700K expected

Late yesterday, API reported:

  • Crude -8670K
  • Gasoline -1730K
  • Distillates +124K

via ForexLive 

Sit’s not quite as big of a draw as API reported for crude but add in gasoline and it’s basically there.

Crude isn’t doing much on the headlines. It’s ticked up to $48.65 from $48.50, one of the reasons might be the continued march higher in production.

  • Production +0.2% w/w
  • Production 9.342 mbpd vs 9.320 mbpd prior
  • Production up 6.9% y/y

US Crude Oil Stocks Change verse Crude Oil Price

Overall commodity space is in a meltdown via CRB Index