US weekly oil inventory data w/e 9 November 2018

  • Crude inventories 10.270m vs 3.200m exp
  • Prior 5.783m
  • OPD 8.79m
  • Cushing 1.167m vs 2.419m prior. OPD 0.726m
  • Gasoline -1.411m vs -1.850m. Prior 1.852m. OPD 0.188m
  • Distillates -3.589m vs -2.024m exp. Prior -3.465m. OPD -3.224m
  • Production 11.7m vs 11.6m prior

A big build was flagged by the overnight data but this blows it out the water. WTI not down as much as you might expect. 56.45 the low in this move from around 56.80.

Ryan Littlestone

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