Bullish Draw, -7.5MBiggest crude draw of the year at 7.5m bbls, big gasoline draw even with a 500k bpd higher refinery utilization. All in all a great report.
US petroleum inventories (crude, SPR, refined products) fell by 10.688mb w/w to 1,608.878mb last week Last week saw refinery inputs jump ~300kbpd as utilization rose back above 90%... Crude: -7.489M Cushing: -1.632M Gasoline: -2.904M Distillates: 0.281M Crude -7.489MM, Exp. +0.1MM Gasoline -2.904 Distillates 0.281MM Cushing -1.632MM Production 12.2MMb/d, -0.100kb/d US implied oil demand (product supplied) rose by 450kbpd w/w to 20.476mbpd last week w/w changes in kbpd gasoline +185 jet fuel -158 distillate -261 residual fuel oil +117 propane/propylene +57 other oils +508