EIA weekly crude oil inventories -5187K vs -3305K expected | Forexlive

• Prior crude -12580
• Gasoline +5320K vs +2707K exp
• Distillates +6159K vs +2208K exp
• Refinery utilization +0.3% vs +0.1% exp
• The SPR draw last week was 2.1 mb

Late yesterday in the API report:

• Oil -6428K
• Gasoline +5930K
• Distillates +3550K

The US SPR has now been drawn down by 206.7 million barrels with about 17 million barrels to go.

These numbers are very similar to the API data as refineries run hard. You would have thought the big draw last week would have lifted oil, or China reopening but nothing is working for crude right now and that looks like a tell.

WTI crude oil is slightly lower on the headlines.