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11:10
01/04/18
01/04
11:10
01/04/18
11:10

Energy Action: NYMEX crude

Energy Action: NYMEX crude rallied briefly to $61.84 from $61.75 following the EIA inventory data which showed a 7.4 M bbl fall in crude stocks. The street had been expecting a 4.5 M bbl decrease, though the API reported a 5.0 M bbl draw after the close on Wednesday. Meanwhile, gasoline supplies, seen up 2.0 M bbls actually rose 4.8 M bbls, while distillate stocks were up 8.9 M bbls, versus expectations for a flat reading. Refinery usage rose to 96.7% from 95.7%. The report is neutral overall, with the larger crude draw offset by big builds in products.

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