Philadelphia FED General Business Conditions Index rose to 24.3. The consensus was at 15.0, prior reading at 22.5.

Industrial production expansion will continue in December.

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U.S. housing starts in November rose 3.9% to 555.000 vs. revised (15.000 higher) 534.000 October reading. The consensus was at 550.000. On year level U.S. housing starts are down 5.8%.

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Initial jobless claims in the U.S. were reported right at the consensus of 420.000; last week revised (up 2.000) reading was at 423.000.

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Crude oil stocks fell 9.9 million barrels; Gasoline stocks were up 0.8 million barrels; Distillate stocks rose 1.1 million barrels; Propane/propylene stocks fell 1.9 million barrels; Other oils stocks decreased 3.8 million barrels; Total crude oil and petroleum stocks were 15.6 million barrels lower for the week.

Refinery utilization rose 0.5% to 88.0%.

Implied crude oil demand fell 0.5 million barrels.

Crude oil and petroleum product net imports fell 1.8 million barrels to 7.8 million barrels. Lowest level in more than 10 years.

Impressive and record stockpile draw; No prof of increased demand; Looks like oil traders move crude oil around the globe.

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