• Prior was 3254K
• Gasoline stocks +3498K vs +71K exp
• Distillates stocks -1295K vs +1169K
• Refinery utilization -1.2% vs +0.2% exp

This is more-bullish than the API data late yesterday but  crude oil  is at the lows of the day at $102.00.

API data late yesterday:

• Crude +1860K
• Gasoline +1290K
• Distillates -2153K

The SPR drew down another 5 million barrels. I think the market is focused on poor implied demand for US gasoline with this report. There was a thought it was skewed much lower by a US holiday in last week’s data but it didn’t bounce much in this report.