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.