Current inventory data to be released by the DOE
The Department of Energy weekly inventory data will be released at the bottom of the hour.
The expectations are for:
- crude oil -1200K
- gasoline -500K
- distillates -1100K
The private data last night showed a surprise build in crude oil inventories, but gasoline inventories showed a bigger than expected drawdown:
WTI crude oil prices are trading down $1.14 or -2.8% at $39.53 for the November contract. The December contract is down $-1.11 or -2.69% at $39.83.