EIA data on oil inventories in the USA

• Crude oil inventories in the United States,  fact  6.8M, forecast -2.5M.
• Cushing Crude oil inventories (Oklahoma, USA),  fact 1.6M, forecast  -0.6M.
• EIA Weekly stocks of distillates in the US ,  fact of 3.6M,  forecast 0.9M.
• Gasoline  inventories in the US, fact -0.7M,  forecast -0.5M.

Concerns about the growth of oil and oil products in the US were justified. According to the EIA, oil inventories rose to a maximum of 6.8M barrels per year. Also, there is no comforting data on surplus oil inventories in Cushing, where stocks rose for the first time in 12 weeks. Slightly reduced gasoline reserves, but US oil imports remain significant 1.3M.

As a result, oil quotes retain a downward trend, which will be limited to April lows this year.

Read also: “The state of the Canadian economy and prospects for raising the interest rate of the Bank of Canada”

Dani Levitan

Earn with the help of the trade service on the news Erste News!

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