#Distillates

WTI/RBOB faded back from yesterday's Libya pipeline headline-driven exuberance ahead of tonight's API inventory data. A bigger than expected crude draw held WTI prices steady but RBOB faded very modestly after API showed a notable gasoline (and distillates) build.   API Crude -6mm (-3.75mm exp)

WTI/RBOB held gains overnight following API's reported crude draw (despite the gasoline glut) but after DOE confirmed a 5th weekly crude draw and 6th weekly gasoline build, algos were confused with prices chaotic. Production hit a new record high. North Sea and Canadian crude supply disruptions

WTI/RBOB inched higher on the day ahead of tonight's API data and then knee-jerked higher as the data showed a much-bigger-than-expected 5.2mm crude draw.   API Crude -5.2mm (-440k exp) Cushing +70k Gasoline +2.001mm (+2.45mm exp) Distillates -2.85mm (+250k exp) A very mixed bag as the

Despite last night's surprisingly large API-reported crude draw, WTI/RBOB prices were sliding in early trading but as the DOE data printed prices stabilized despite a smaller crude draw than API and a much bigger gasoline builds than expected. Production surged on the week to a new record high.

A relatively stable day in energy markets as many other markets turmoiled, but as tonight's data hit, both WTI/RBOB kneejerked lower after API showed massive product inventory builds (despite a big crude draw).   API Crude -5.48mm (-2.5mm exp) Cushing -1.95mm (-2.4mm exp) Gasoline +9.196mm -