US weekly EIA oil inventories +2629K vs -2500K exp

US energy inventories:
– Prior -5877K
– Gasoline +925K vs +500K exp
– Distillate +1795K vs +500K exp
– Refinery utilization +1.3% vs +0.25% exp
The rise in inventories virtually matched the increase in the yesterday, and that’s why oil was soft before the data (and has continued lower since the release).

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