Oil - private inventory survey shows a smaller-than-expected build ...Middle East

The initial reports suggest a less-bearish inventory build than was expected on crude with gasoline and distillates largely cancelling each other out. The consensus for tomorrow's EIA data is:Crude +1895KGasoline +140KDistillates -1000KThis information originates from a survey conducted independently by the American Petroleum Institute (API), focusing on oil storage facilities and companies. The official release is anticipated on Wednesday morning, U.S. time.There's a notable distinction between the two sources of data.The formal government figures are released by the U.S. Energy Information Administration (EIA), which gathers its data from the Department of Energy along with other federal a

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