EIA weekly US oil inventories -2224K vs -446K expected

<ul><li>Prior was -2170K</li><li>Gasoline +6481K vs +161K expected</li><li>Distillates -1269K vs -333K expected</li><li>Refinery utilization -2.2% vs -0.4% expected</li></ul><p>This helps to explain the breakdown in gasoline cracks.</p><p>API data late yesterday showed API inventories:</p><ul><li>Crude -4.21M
</li><li>Cushing +0.705K
</li><li>Gasoline +3.946M
</li><li>Distillate +0.349K</li></ul>

This article was written by Adam Button at www.forexlive.com.