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‘Big League’ Crude Build, ‘Bigly’ Gasoline Draw Overshadow CERAWeek Banter

So on Tuesday afternoon I said the following after the API numbers (which showed a 'big league' crude stock build and a 'bigly' gasoline stock draw) hit the wires: Boy, oh boy. If you wanted a dramatic set up for tomorrow’s EIA data, I’ve got one for you. Well the numbers didn't disappoint - or at least not as far as triggering an equally dramatic move in RBOB. Here's the quick breakdown: EIA: Crude +8,209k Bbl, Median Est. +2,000k Bbl EIA inventory report also shows these changes for last week: Cushing crude +867k PADD 3 crude +1,008k Gasoline -6,555k vs est. -1,987k PADD 1B gasoline -957k Distillates -2,676k vs est. -1,000k PADD 1 Distillates -2,051k Refinery utilization -0.1 ppt vs est. +0.5 ppt Refinery crude inputs -172k b/d Crude imports +561k b/d Crude production +56k b/d And so, with the crude build looking "small" (sarcasm) compared to the huge +11.6m bbl build reported by API and with the gasoline draw looking "bigly-er-er" than the 4.96m API print, we got this: Once again: sorry CERAWeek, talk is cheap these days. Data moves markets.  
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