EIA Crude Inventories

Just released at 10:30...



Released On 3/21/2012 10:30:00 AM For wk3/16, 2012

	Prior	Actual
Crude oil inventories (weekly change)	1.8 M barrels	-1.2 M barrels
Gasoline (weekly change)	-1.4 M barrels	-1.2 M barrels
Distillates (weekly change)	-4.7 M barrels	1.8 M barrels

We have a draw in Crude of 1.2m barrels

Dept of Energy reports that:

• Crude oil inventories had a draw of 1.16 mln (consensus is a build of 2.2 mln)
• Gasoline inventories had a draw of 1.2 mln (consensus is a draw of 2.0 mln)
• Distillate inventories had a build of 1.76 mln (consensus is a draw of 1.5 mln)
• Change in refinery utilization at -0.5%.

Maybe more importantly, here is the trend...

USO's reaction is muted