US EIA weekly oil inventories week ending 27 October 2017

  •  Prior 856k
  • Overnight private data -5.100m
  • Cushing 0.090m vs -0.237m prior
  • Gasoline -4.020m vs -1.506m exp. Prior -5.465m
  • Distillates -0.320m vs -2.128m exp. Prior -5.246m
  • Production 9.553m vs 9.507m prior

WTI drops arounf 30 ticks to 54.69 on the data as the draw was more than expected but not as much as flagged by the private data.

WTI is finding it a struggle to break into 55.00 but a rebound here might have another crack.

WTI weekly chart

Ryan Littlestone

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