EIA data on oil inventories in the USA

• Crude oil inventories in the US,  fact  -1.351M, forecast -2.800M.
• Cushing Crude oil inventories(Oklahoma, USA),  fact -0.590M,  previous value -1.338M
• EIA Weekly distillates stocks in the United States ,  fact 1,230M, forecast 0.220M.
• Gasoline inventories in the US,  fact  2,900M, forecast -1,700M.

The report on oil inventories in the US from the EIA turned out to be negative by all criteria. A less significant decrease in US oil reserves increased the growth of pessimism in the oil market. The reserves of oil products increased significantly, thereby increasing the fears of the market regarding the growth of supply.

As a result, the main oil brands may have a deeper decline to the August lows.

Read also: “Australian Dollar (AUD) – a feature of trading on cross-rates”

Hanzenko Anton

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