US weekly oil inventory data w/e 16 November 2018
- Inventories 4.851m vs 3.450m exp. Prior 10.270m
- OPD -1.545m
- Cushing -0.116m vs 1.167m prior. OPD 0.398m
- Gasoline -1.295m vs 0.100m exp. Prior -1.411m. OPD 0.706m
- Distillates -0.077mm vs -2.500m exp. Prior -3.589m. OPD -1.832m
- Production 11.7m vs 11.7m prior
Bigger build than expected and witht eh market perhaps looking for less with the draw in last night’s private data.
WTI loses a few ticks to 54.13 but is back at 54.40.