U.S. Oil Inventories Data

• Crude oil inventories, fact -6.912M, forecast -2.686M.
• Cushing (Oklahoma) Crude oil inventories, fact -0.798M, previous value -0.230M.
• Weekly distillate reserves according to EIA, fact 2.704M, forecast 0.072M.
• Gasoline inventories, fact -0.682M, forecast -0.847M.

Crude oil inventories in the United States declined more significantly than expected by 6.9 million barrels. But the report on oil reserves in the United States put pressure on the oil market due to a noticeable increase in oil reserves. Of particular note is the increase in distillate stocks.

Fig. U.S. Crude Oil Stock Chart

 

Amid growing pessimistic sentiment, thanks to an increase in oil products reserves and technical correction after growth, the oil market accelerated its decline to weekly lows, limiting itself to the opening levels of the current week.

Hanzenko Anton

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