Weekly inventory data from the DOE
- Crude oil inventories -4609K versus -3750K estimate
- US gasoline inventories +591K vs +1350K estimate
- Cushing -1584K vs 754K last week.
- distillates inventory 1090K vs 0K estimate
- US refinery utilization 1.60% vs -0.05% estimate
The price of crude oil has spiked higher but has since come back down and trades near unchanged on the day at $59.58. The high to low trading range extended up to $59.72 and down to $59.44.
