- Total motor gasoline stocks ↓2.9 million barrels last week, vs. ↑0.2 million expected, with the draw focused on the Midwest and Gulf Coast
- Distillate demand was also bullish: stocks ↓2.2 million barrels vs. ↓0.9 million barrels expectedProduct cracks have traded within a $0.40 range this morning and are now stronger: Apr10 RBOB is ↑$0.43 while HO is ↑$0.37
- Yesterday's API report showing a 6.5 million barrel rise in crude oil inventories failed to materialize, EIA showed crude stocks ↑1.4 million bbl
- Refineries decreased use of crude oil by 149,000 bpd last week, reducing percent utilization by 1.2% to 80.7%
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