News Headline Summary

US DoE Crude Oil Inventories (Dec 7) W/W 843K vs. Exp. -2500K (Prev. -2357K)

- US DoE Distillate Inventory (Dec 7) W/W 2986K vs. Exp. 1100K (Prev. 3027K)
- US DoE Gasoline Inventories (Dec 7) W/W 5000K vs. Exp. 2000K (Prev. 7860K)
- US DoE Refinery Utilization (Dec 7) W/W -0.20% vs. Exp. 0.00% (Prev. 2.00%)
- US DoE Cushing OK Crude Inventory (Dec 7) W/W 1187K (Prev. -226K)

- US SPR unchanged at 694.952mln bbl
- US West Coast crude stocks -0.855mln bbl at 56.017mln bbl
- Gulf Coast crude stocks +0.429mln bbl at 178.32mln bbl
- East Coast heating oil stocks +0.995mln bbl at 20.014mln bbl

Reaction details (15:33)

- Due to the large than expected build in the headline figure, WTI crude future move USD 0.21 lower from USD 86.78 to USD 86.57.
- The larger than expected build in gasoline also saw Rbob future move lower from USD 2.6556 to USD 2.6410.

Analysis details (15:40)

- US oil production rises to highest level since January 1994 as the US are looking at utilising domestic oil reserves and are becoming less reliant on foreign imports.

12 Dec 2012 - 15:30 - Energy Data - Source: Newswires

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