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Crude Inventories Post Larger Draw Than Forecast

COMMODITIES

Larger than expected draw for headline crude: -3.3mln bbls vs. Exp. Draw of -1.0mln bbls

  • Similar case for gasoline, with a larger draw than forecast: -1.2mln bbls vs. Exp. -733k bbls
  • Distillates post an unexpected, but small, build of +112k bbls vs. Exp. Draw of 450k bbls
  • Refinery utilization dips -1.10% vs. Exp. -0.28% while the SPR drops another 3mln bbls to 450mln bbls

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