For the week ending May 10, we have a small crude build of 0.15 million bbls. This includes the SPR build of 600k bbls.
Two weeks ago, EIA's crude storage build was much larger than expected due to an imbalance in the physical movement of crude imports/exports. If this corrects in this week's report, then EIA would report a crude draw versus our estimate.
This is what we are currently seeing for our US crude storage projection:
