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US weekly oil stocks according to EIA +7,265,000 versus -1,100,000 expected

  • Before it was -6368K
  • Gasoline +344K versus -1060K expected
  • Distillations -732K versus -225K expected
  • Use of refineries -1.0% versus +0.5% expected
  • Implicit demand for mogas compared to 8.42 mbpd previously
  • American production 13.1 mbd against 13.1 mbd previously

Private oil data from last night:

  • Raw +4906K
  • Gasoline -1480K
  • Distillates -2187K
  • Cushing +1479K

Oil prices have fallen on these numbers, but not as much as I would have expected.

This article was written by Adam Button at www.forexlive.com.

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