US crude oil inventory for the current week -0.515M vs 2.300M estimate

The weekly inventory data from the EIA shows:

• crude oil inventories -0.515M vs. 2.300M estimate
• Gasoline inventories -2.707M vs 0.600M estimate
• Distillates inventories -0.977M vs -1.595M estimate
• Cushing 0.681M vs -0.346M last week
• Crude production 13.5 million barrels versus 13.5 million barrels previously.

The private data released late yesterday showed:

Crude oil is trading at $68.19 ahead of the release.

The current prices trading at $68.32 after the report

This article was written by Greg Michalowski at www.forexlive.com.