WTI/RBOB Slammed On Surprise Crude Build

API reported a significant crude draw yesterday and after last week’s record US exports and biggest crude draw in two years, DOE reported a surprising crude build of 1.245mm barrels and sent WTI/RBOB tumbling.

 

API

Crude -4.5mm

Cushing -2.6mm

Gasoline -3.00mm

Distillate -438k

DOE

Crude +1.245mm (-5mm exp)

Cushing -2.113mm (-2mm exp)

Gasoline -1.505mm (-750k exp)

Distillate +134k