August 17, 2022 14:32 GMT
- Headline crude stocks see a sizeable draw of 7mln bbls vs. Exp. draw of 108k bbls
- Gasoline sees a larger than expected draw: 4.6mln bbls vs. Exp. draw of 812k bbls, with distillates see a build of 766k bbls vs. Exp, build of 1.1mln bbls
- Refinery utilization drops 0.8% vs. Exp. drop of 0.17%, while the SPR drops another 3.4mln bbls to 461mln bbls.
- Data shows that US crude exports surged to a record level, with European replacing Russian oil with US imported products.