EIA weekly US crude oil inventories -1274K vs -1066K expected

• Prior was -1812K
• Gasoline +4808K vs +2062K exp
• Distillates +1712K vs +1178K exp

There was a huge draw in the private data released yesterday, so ‘expectations’ were for something more-bullish than the consensus.

• Crude -9300K
• Gasoline -4800K
• Distillates +2500K

As a result, we’re getting some selling pressure on oil after the data. This is an unusually large divergence.

This article was written by Adam Button at investinglive.com.