Post close, the American Petroleum Institute crude inventory numbers were released. These showed yet another surprise drawdown, this time - 3 million barrels vs an expected +2.5 million increase. This has given early Asian trading a bullish start with Brent trading at $51.85 a barrel and WTI at $50.65 a barrel. Still some way from their recent weekly highs.
Bullish start aside, plenty of event risk lurks over the next 24 hours. This morning we have China GDP and Industrial Production in Asia, followed this evening by the US EIA crude inventory report. Both will have a high beta to oil with the latter in particular likely to set the tone for the rest of the week.