Against expectations of a 2.5mm barrel build, API reported Crude stocks drawdown in the latest week by 2.13mm barrels, sparking a kneejerk gain in WTI crude back above $72…

API

  • Crude -2.13mm (+2.5mm exp)
  • Cushing +1.5mm
  • Gasoline -3.4mm
  • Distillates -246k

    • After 3 weeks of crude builds, API reported a draw in the latest week…

    And WTI spiked back above $72 on the headline crude draw…

     

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