Weekly US EIA crude oil inventory data w/e 6 April 2018

  • Prior -4.617m
  • Overnight private data 1.758m
  • Cushing 1.129m vs 3.666m prior. OPD 1.452m
  • Gasoline 0.458m vs -1.100m exp. Prior -1.116m. OPD 2.005m
  • Distillates -1.044m vs 0m exp. Prior 0.537m. OPD -3.849m
  • Production 10.525m vs 10.433m prior

A bigger build than expected, even with the market leaning that way after the private data. No big move in WTI, which dropped around 30 ticks to 65.68 and is back at 65.98. Production showing no signs of slowing down whatsoever.

Ryan Littlestone

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