American Petroleum Institute (API) crude oil inventory data Oil inventory build of 2.6 mln barrels Cushing draw of 319K barrels Gasoline -1.94 mln bbls Distillate -95K bbls The survey expectations for the headline number was a build of 3.2mln barrels, so the 2.6mln (2.642mln to be more precise) bbls result is below expectations Note – This data is out earlier to API subscribers (at 4.30pm ET) and released publicly at 4.35pm ET. The API data is closely watched as a guide to the U.S. Energy Information Administration (EIA) data due tomorrow morning (US time) The consensus estimate for tomorrow’s EIA report is currently for a stock build of 2822.22K barrels (i.e. an adding to inventory)