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.

Ryan Littlestone
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