Crude stocks dropped 3.186M barrels vs +1.915M expected. gasoline built 0.382M vs -1.611M expected. distillate slipped 0.042M vs -1.52M expected. Refinery runs rose to 92.7%.
distillate inventories: -0.042M vs forecast -1.52M
Cushing inventories: +0.444M
Crude imports: 6.8M bpd, +1.1M bpd week-over-week
EIA crude inventories fall 3.2M barrels, defying build forecast.
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WHY IT MATTERS••••••••••Market transmission and exposed assetsBULL / BEAR CASE•••• / ••••Competing evidence, edited togetherNEWS ON PRICE••.•% reactionConfirmation versus SPY and sectorWHAT TO WATCH•• catalystsThe facts that can change the read
BORSAPLUSWhy it matters · Bull and bear case · Reaction against SPY and the sector · What to watch
