API reports big draw from crude oil storage - May 14
Posted: Tue May 14, 2024 6:26 pm
After the markets closed on May 14 API reported:
Crude inventories (3.104M) barrels
Gasoline reported (1.269M) barrels
Distillates reported +349K barrels
Cushing reported (600K) barrels
If EIA agrees, WTI will be up tomorrow.
After we get past the OPEC+ meeting we should see steady decline of crude oil inventories in June. Refineries are ramping up after seasonal maintenance.
Crude inventories (3.104M) barrels
Gasoline reported (1.269M) barrels
Distillates reported +349K barrels
Cushing reported (600K) barrels
If EIA agrees, WTI will be up tomorrow.
After we get past the OPEC+ meeting we should see steady decline of crude oil inventories in June. Refineries are ramping up after seasonal maintenance.