News Headline Summary

US DoE Crude Oil Inventories (Aug 23) W/W 2986k vs. Exp. 750k (Prev. -1428k)

- US DoE Cushing, OK Crude Inventories (Aug 23) W/W -837k (Prev. -1090k)
- US DoE Gasoline Inventories (Aug 23) W/W -587k vs. Exp. -1375k (Prev. -4029k)
- US DoE Distillate Inventory (Aug 23) W/W -316k vs. Exp. 550k (Prev. 871k)
- US DoE Refinery Utilization (Aug 23) W/W 0.20% vs. Exp. -0.25% (Prev. 1.60%)

- SPR unchanged at 695.969mln bbl.
- Gulf Coast Crude stocks rose by 4.36mln bbl.
- East Coast Heating Oil stocks fell 0.022mln bbl.
- West Coast Crude stocks fell 1.236mln bbl.
- Midwest Crude stocks fell -0.731mln bbl.

Reaction details (09:36)

- In an immediate reaction WTI Crude futures fell USD 0.31 from USD 109.94 to USD 109.63; trades USD 110.04 (+USD 1.04) last.

Analysis details (09:38)

- US oil stocks at Cushing, Ok Storage hub down for eighth straight week, drop 13.06mln bbl over last eight weeks.
- US domestic oil production at 7.61mln bpd last week, highest level since Oct 1989.

28 Aug 2013 - 09:30 - - Source: Newswires

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