UPDATE: Crude Inventory -4.9M Barrels vs -1.68M Expected

(Updated - June 24, 2015 10:34 AM EDT)

Crude inventory for the week ending June 19 declined 4.93 million barrels vs the consensus for a draw of 1.68 million barrels. API data yesterday showed a draw of 3.2 million barrels.

Cushing inventory declined 1.87 million barrels vs a decline of 666 thousand expected.

Gasoline inventory increased 680 thousand barrels vs a decline of 388 thousand expected.

Distillate increased 1.84 million barrels vs an increase of 583 thousand expected.

Traders are watching United States Oil Fund (NYSE: USO), iPath Dow Jones-Goldman Sachs Crude Oil Fund (NYSE: OIL), and related futures contracts / ETFs.

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