RE:RE:Oil Inventories.... BAD!!!!
Agreed - it was a net draw. lots of the media focuses too much on the oil drawfigure but in fact both distillates and gas count as well.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.2 million barrels from the previous week. At 457.1 million barrels, U.S. crude oil inventories are in the upper half of the average range for this time of year. Total motor gasoline inventories decreased 3.3 million barrels last week, and are in the lower half of the average range. Finished gasoline inventories increased, but blending components inventories decreased last week. Distillate fuel inventories decreased by 3.4 million barrels last week and are in the lower half of the average range for this time of year. Propane/propylene inventories decreased by 1.1 million barrels last week, and are in the lower half of the average range. Total commercial petroleum inventories decreased by 9.1 million barrels last week.