DOE Crude Oil Inventories - Big Build leads to big sell off

Today at 15:30 GMT (10:30 EST) on wednesday april 4th, the energy inventory figures where released from the DOE. There was a big build on crude. After a data filled session with Services PMI figure in Europe, then US ADP and ISM figures. Not to mention yesterday afternoon Fed minutes still driving the markets causing the US dollar to appreciate against all the majors. Finally this Crude Inventory finished off the data for the day. There is alot more data tomorrow as it is the 1st week of the month, generally alot of data come but because of Easter Friday everything has be come out by Thursday, with the exception of NFP which the markets will open up especially for.

Here is the data:


DOE U.S. Crude Oil Inventories
Estimates: Median: +2500k Average: +2027k Low: -1500k High: +3500k
Actial: +9009k Prior: +7102k No Revision

DOE U.S. Distillate Inventory
5 Estimates: Median: -500k Average: -123k Low: -1000k High: +1250k
Actial: +19kk Prior: -711k No Revision

DOE U.S. Gasoline Inventories
Estimates: Median: -1400k Average: -941k Low: -2500k High: +1750k
Actial: -1457k Prior: -3537k No Revision

DOE U.S. Refinery Utilization
Estimates: Mediian: +0.35% Average: +0.36% Low: 0.00% High: +1.00%
Actial: +1.20% Prior: +2.30% No Revision

DOES Cushing OK Crude Inventory
Actial: 729k Prior: 1043k No Revision

DOE Crude Oil Implied Demand
Actual: 14536 Prior: 14075

DOE Distillate Implied Demand
Actual: 4553.3 Prior: 4551.6

DOE Gasoline Impled Demand
Actual: 9163.4 Prior: 9090.4


Here is a 15 second chart, after the release there was a few moments to sell at 102.30-40 to catch the inital spike down, but it moved very fast. AFterwards there was a 38% pullback of the spike range which gave a nice renetry and price continued to move down from this 102.25 level for over 100 ticks.