Crude down 5 mbbls but unleaded up 7 mbbls. Huge distillate build too. Hard to take away anything bullish about that report.
The Energy Information Administration reported on Wednesday that U.S. crude inventories fell by 5.2 million barrels for the week ended June 4. On average, analysts polled by S&P Global Platts had forecast a decline of 4.1 million barrels for crude stocks, while the American Petroleum Institute on Tuesday reported a 2.1 million-barrel decrease, according to sources. The EIA, however, also reported that gasoline supply climbed by 7 million barrels, while distillate stockpiles rose by 4.4 million barrels for the week. The S&P Global Platts survey had expected weekly supply gains of 1 million barrels for gasoline and 400,000 barrels for distillates.