Weekly EIA inventories crude oil +1609K versus -933K expected ...Middle East

Expectations:Crude +1609K vs -933K expGasoline +1764K vs +229K expDistillates +5127K vs -394K expThe huge build in distillates is a big surprise and it's certainly welcome given critically-low diesel inventories.Late yesterday, the API reported:Crude -817KGasoline -898KDistillates +2806KThese numbers are bearish oil, which was already selling off into the data. If OPEC hasn't already made up its mind, this should be a warning to them that the crude market isn't particularly tight.Expect a big move tomorrow when the OPEC news is announced. This article was written by Adam Button at www.forexlive.com.

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Weekly EIA inventories crude oil +1609K versus -933K expected ...Middle East

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