EIA Petroleum Report

Released at 10:30

Released On 7/18/2012 10:30:00 AM For wk7/13, 2012

	Prior	Actual
Crude oil inventories (weekly change)	-4.7 M barrels	-0.8 M barrels
Gasoline (weekly change)	2.8 M barrels	-1.8 M barrels
Distillates (weekly change)	3.1 M barrels	2.6 M barrels

There's a draw in crude, not as large as last week's, also a draw in finished gasoline and a build in distillates. 


The report seems luke warm to me, that's the same feeling I got from the 3C charts and so far that's the same reaction in USO.

We will watch USO however as we have found some interesting trades after the EIA report.