Data on the US oil inventories
- Crude oil inventories, fact 7.238M, forecast -0.425M.
- Cushing (Oklahoma) crude oil inventories, fact 0,201M, previous value 0,541M.
- Weekly distillate stocks according to EIA, fact -1.998M, forecast -0.506M.
- Gasoline stocks, fact -1,781M, forecast -1,542M.
The oil market was under significant pressure on data on the growth of the US oil inventories from the EIA. Published data showed a significant increase in the US oil inventories for the week, which corresponds to the maximum value for the current year. At the same time, stocks of petroleum products continue to decline next week in a row.
Fig. U.S. crude stocks chart
The main oil brands were under the pressure, but the decline in oil prices is limited to data on the reduction of distillates and gasoline and the overall upward dynamics of the oil market. Therefore, this decline will largely be regarded as a correction after a decline and will not have a lasting impact on the market.
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Hanzenko Anton
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