Weekly US oil inventory is due at the bottom of the hour and the consensus is:
- Crude -2320K
- Gasoline -1260K
- Distillates -473K
The API data late yesterday showed:
- Crude -6195K
- Gasoline +700K
- Distillates -800K
Gasoline inventories are becoming a problem.
Gasoline storage via HFI Research
There is talk of larger draws in the next couple weeks on higher US exports. Crude is being pulled from the US to buyers who normally purchase from OPEC+ countries.