Technical Analysis

Weekly US crude oil inventories +7K vs -3000Ok anticipated

Weekly oil inventories from the EIA

Prior was -46Ok

Gasoline +6890Ok vs +2400Ok anticipated

Distillates +9529Ok vs +1100Ok anticipated

Refinery utilization +2.1% vs +zero.three% anticipated

Cushing +641Ok vs +799Ok

API numbers late yesterday:

Crude -4500KGasoline +8000KDistillates +4000KCushing +483Ok

This can be a tender report for oil nevertheless it mirrors the API quantity. The oil market has shaken it off and stays sky excessive. The provision story is not on the high of thoughts proper now and the roles numbers and China stimulus are nice information on that entrance.

WTI up $1.54 to $48.62 final.
               


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