Weekly energy supply data from the EIA
– Prior was 2784K
– Cushing +1520K
– Gasoline -1231K vs -500K expected
– Distillates -1647K vs -1000K expected
– Refinery utilization -0.6%
Massive miss. The market was looking for a of around 3m barrels yet it was a . You’d have to think the API models screwed up somehow because of the Alberta fires.