EIA weekly US oil inventories -4304K vs -1035K expected

• Prior was -2795K
• Gasoline +5219K vs +609K exp
• Distillates +4230K vs +1018K exp

Nice headline but huge builds in products.

API data from late yesterday:

• Crude -3300K
• Gasoline +4700K
• Distllates +760K

Oil dropped on the latest headlines but quickly rebounded. It’s up around 40 cents today.

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