EIA Expectations: Crude 0.25M, Distillate -1.96M, Gasoline -1.55M

  • Crude: 0.25M, prev. 5.45M (Private +3.7M)
  • Distillate: -1.96M, prev. -2.11M (Private -0.6M)
  • Gasoline: -1.55M, prev. -0.586M (Private -4.0M)
  • Cushing: prev. 0.520M (Private -0.6M)
  • Refining: 0.5%, prev. -0.8%
  • Production: prev. 13.657M
Context

The EIA inventory data suggests a substantial reduction in distillate and gasoline inventories, which could signal tightening supply amid strong demand. Crude inventories increased less than expected, particularly when compared to the substantial rise in the previous report, which may indicate stabilizing conditions in that market. Overall, the data could reinforce upward pressure on oil prices if trends suggest a continued tightening of supply across these key products.

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