- Prior was -1892K
- Gasoline -222K vs +153K expected
- Distillates -3565K vs -100K expected
API data from late yesterday:
- Crude -5267K
- Gasoline +1427K
- Distillates -270K
It’s all about Trump and the Iran war today. There’s a line of thinking that he will blame his advisors or others for the Iran war and look to wrap it up. In the post-mortems from the election, all sides are blaming an unpopular war and rising gasoline prices for the defeat. In contrast, Trump could go for broke on defeating Iran by escalating further in an effort to create a legacy.
WTI crude oil was last down $2.08 to $93.99 per barrel.
