EIA weekly crude oil inventories +3939K vs -1040K expected

• Prior was +2415K
• Gasoline +1458K vs -243K expected
• Distillates +4715K vs +35K expected
• Refinery utilization +0.6% vs -0.6% expected

WTI crude oil was up 68-cents ahead of this report to $63.32 but numbers like this are certainly a headwind. I’m increasingly bearish on oil.

The private report from late yesterday showed:

• Crude +1250K
• Gasoline +329K
• Distillates +1500K

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