Overall crude inventories rose for the 6th week in a row according to API. Despite draws in Gasoline, Distillates, and Cushing; Crude inventories surged 8.8mm barrels – the 2nd biggest weekly build in a year.

API, according to RTRS:

This was a big draw in Cushing but appears to be dominated by the surge in overall inventories…

Crude is giving back some of the bounce gains on the news…

Charts: Bloomberg