Crude Oil Mildly Lower on 2.9m Barrels Inventory Build
BonTradeWTI crude oil is mildly lower as DOE report showed larger than expected inventory build by 2.9m barrels in the week of march 25, higher than expectation of 1.6m barrels. The larger than expected build is due to result of 141k barrels per day increase in imports. Domestic production and refinery consumption was largely unchanged. Distillate inventories rose by 710k barrels versus expectation of 1m barrel decline. The unexpected rise was due to decline in demand. Meanwhile, gasoline inventories dropped by 2.7m barrels, lower than expectation of 2m barrels drop.
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Crude Oil Mildly Lower on 2.9m Barrels Inventory Build
