US weekly EIA crude oil inventories -5503K vs -3725K expected ...Middle East

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Prior was -7114KGasoline +1090K vs -215K expDistillates +1009K vs +588K expRefinery utilization +0.2% vs -0.1% expProduction-100K to 13.2 mbpdImpld mogas demand: 7.95Mbpd Late yesterday, the API reported:Crude -7418KGasoline +6913KDistillates +6686KThe turn of the year is a time of depressed driving demand so that makes it tricky to interpret the numbers. WTI crude was trading down 33 cents to $72.37 ahead of the data. It traded as high as $74.00 earlier.In this data, those are huge builds in products as refineries ran hard and demand dropped over the holidays. The big question going forward is the US production number. If it hits 14 mbpd this year, then oil is in trouble. T

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Last updated : 04 January 2024 clock 07:13 PM

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US weekly EIA crude oil inventories -5503K vs -3725K expected ...Middle East

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