DOE Crude & Petroleum Inventory Data Update

Crude Oil    Actual: -5412K     Survey: -250K, Prior: -3699K

Gasoline   Actual:  -962K       Survey: -1350 K, Prior: -2371K

Distillate  Actual:  992K      Survey: 1000K, Prior: 677K

Ref. utilization %  Actual:  -1.40%     Survey:  -0.30%, Prior:0.00%

Data Impact : The surprising decline in crude inventories might push the oil price up for a while. However, distillate inventories and refinery utilization provides a negative impact on oil prices. So overall we might see initially oil prices to stay up and the gains may not sustians at the close.

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