EIA weekly US oil inventories -440K vs -5400K expected | Forexlive

• Prior was +3925K
• Gasoline +2207K vs +310K expected
• Distillates +1120K vs +513K expected
• Refinery utilization +0.8% vs +0.5% expected
• Implied demand at 21.087 mbpd vs 20.267 mbpd prior
• Gasoline demand -269K vs +351K bpd prior

This is a bullish report but it was generally expected after yesterday’s private inventory figures. Oil found a bit of a footing after the numbers but remains down $1.66 on the day.