News Headline Summary

US DoE Crude Oil Inventories (Jan 4) W/W 1314K vs. Exp. 2000K (Prev. -11120K); highest levels since March 1993

- US DoE Distillate Inventory (Jan 4) W/W 6777K vs. Exp. 1900K (Prev. 4574K)
- US DoE Gasoline Inventories (Jan 4) W/W 7412K vs. Exp. 2500K (Prev. 2569K)
- US DoE Refinery Utilization (Jan 4) W/W -1.30% vs. Exp. 0.25% (Prev. 0.10%)
- US DoE Cushing OK Crude Inventory (Jan 4) W/W 332K (Prev. 573K); highest since records began.

- SPR unchanged at 694.952mln bbl.
- US West Coast Crude stocks -0.601mln bbl at 54.903mln bbl.
- Gulf Coast crude stocks -1.876mln bbl at 162.571mln bbl.
- East Coast Heating Oil stocks -0.441mln bbl at 17.116mln bbl.

Reaction details (15:32)

- WTI crude futures moved USD 0.24 lower in immediate reaction from USD 93.42 to USD 93.18.
- RBOB Gasoline moved from USD 2.7719 to USD 2.7619.

Analysis details (15:45)

- This follows a draw down of -11120K vs. Exp. -1000K in last weeks headline figure, the biggest weekly drop since Feb 2001.

09 Jan 2013 - 15:30 - - Source: Newswires

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