EIA weekly crude oil inventories -2696K vs +429K expected

• Prior was +244K
• Gasoline -4003K vs -1031K expected
• Distillates +937K vs -1566K expected

Private inventories from the API late yesterday:

• Crude +3760K
• Gasoline -3140K
• Distillates -2520K

This is a good report for the bulls but the oil market is focused on demand months from now due to the trade war. There is also the OPEC decision on May 5 that could submarine the market.

This article was written by Adam Button at www.forexlive.com.