Weekly US EIA oil inventory data week ending 05 January 2018

  • Prior -7.419m
  • Overnight private data -11.19m
  • Cushing -2.395 vs -2.441m prior. OPD -2.516m
  • Gasoline 4.135m vs 3.550m exp. Prior 4.813m. OPD 4.338m
  • Distillates 4.254m vs 2.250m exp. Prior 8.899m. OPD 4.685m
  • Production 9.492m vs 9.782m prior

Not too far off of expectations, nor off the overnight private data, thouhg some may have been looking for a bigger oil draw. WTI drops around 26 ticks to 63.06. That’s a hefty drop in the production numbers though, and the second in two reports. The weather may have been a factor though.

Ryan Littlestone

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