Oil: Private Survey Shows Crude Draw and Large Diesel Draw
Key Takeaways
- •The private survey indicated a weekly draw in crude inventories and a large draw in diesel stocks.
- •The official EIA Weekly Petroleum Status Report is scheduled for release tomorrow morning.
- •A record diesel crack was reported, showing unusually strong diesel refining margins.
- •Diesel is a key fuel for trucking, agriculture and construction equipment, so its price can affect delivered-goods costs.
- •The official inventory data will determine whether the private survey’s crude and diesel draws are confirmed.
Oil: Private Survey Shows Crude Draw and Large Diesel Draw
This report is based on privately surveyed oil stock data released ahead of the official U.S. government inventory figures due tomorrow morning. The official benchmark is the U.S. Energy Information Administration's (EIA) Weekly Petroleum Status Report, normally released Wednesdays at 10:30 a.m. ET; private surveys of this kind, most prominently the American Petroleum Institute's (API) weekly tally, typically land a day earlier and serve as an early read that can, and at times does, diverge from the government numbers. A "draw" refers to a week-on-week decline in stockpiles, so the headline points to falling crude inventories and a large decline in diesel stocks.
Oil inventory data, via oilprice.com:
more to come
Diesel is getting out of control, inflation impact imminent (higher):
investingLive Asia-Pacific market news: Diesel crack hits record $102, gold fell under $4400
The "crack" in that headline is the spread between a refined product's price and the crude input, effectively the refining margin, so a record diesel crack reflects unusually strong economics for producing the fuel. Diesel is the primary fuel for freight trucking, agriculture and construction equipment, placing it near the base of delivered-goods costs; that transmission channel is why sustained diesel cracks are monitored as an upstream cost signal for broader goods prices rather than as a purely energy-market quirk. Distillate inventories, which combine diesel and heating oil, also carry a seasonal profile that draws closer attention ahead of the Northern Hemisphere heating season. Tomorrow's EIA release is the checkpoint for whether the official figures confirm both the crude draw and the large diesel draw indicated by the private survey.
Most Popular
UK headline inflation picks up in July, core prices hold steady
Bizcap US Launches, Bringing Fast, Flexible Funding to SMBs
FX option expiries for 19 August 10am New York cut
Inflation data the main focus on the economic calendar in Europe today
Bitcoin Price Analysis: The Critical Crypto Chart Between $64K and $65K
investingLive Asia-Pacific market news: Asian equities slide, KOSPI circuit breaker
RBA dep Gov Hauser says inflation is too high, monetary policy needs to bring it down
China eases limits on Nvidia H200 chips as AI race escalates, FT reports
Trump pauses 50% Canada tariffs for 'three day period'
AUD traders heads up, Andrew Hauser, Reserve Bank of Australia Deputy Governor speaking soon
Best in 2026
Sponsored
