US API CRUDE OIL INVENTORY SHIFT ACTUAL -9.1M (PROJECTION -3.4M, PRIOR -2.188M)

@FirstSquawk US oil inventories be like

@FirstSquawk Drain the swamp

@FirstSquawk -9.1M vs -3.4M expected. Nearly 3x the draw. US demand absorbing supply faster than modeled. The hemisphere consuming its own reserves while global supply is disrupted. XLE +40% wasn’t a trade. It was the thesis.

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@FirstSquawk -9.1M barrel draw is triple the expectation. That's enough to crimp any near-term rally in crude, especially with refiners already running cautious. Demand signal just got a lot quieter

@FirstSquawk Bearish oil @GavMcCracken

@FirstSquawk wtf lol

@FirstSquawk Larger draw than expected, supports short-term oil bid but demand side still the real question.