U.S. Oil Reserves Data - Ester Holdings
||

U.S. Oil Reserves Data

  • Crude oil inventories, fact 1,058M, forecast -2,496M.
  • Cushing (Oklahoma) crude oil inventories, fact -0.647M, previous value -0.798M.
  • EIA weekly distillate reserves, fact 0.437M, forecast 0.535M.
  • Gasoline inventories, fact 0.781M, forecast -0.538M.

Despite a noticeable increase in the US crude oil inventories over the week, which interrupted a four-week decline, the oil market was practically not pressured by an increase in the US supply. The reason for this was the preservation of tension in the Middle East and the statement by the US President D. Trump to strengthen sanctions against Iran, which is suspected of an attack on oil refineries in Saudi Arabia.



US Crude Oil Stock Chart

As a result, the main oil brands even strengthened slightly after the publication of data on oil reserves in the USA. The reason for the increase in oil prices are the risks of increased tension and doubts about the rapid recovery of oil exports in Saudi Arabia.

Read also: “The oil market and its cloudy prospects

Hanzenko Anton


 

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

Topical articles of the trader’s blog:

  1. How real is the clowdown of a bearish trend for the euro?
  2. Gold forms a reversal. Correction before the resumption of growth
  3. Oil market: does it form a reversal or maintain lateral dynamics

Current Investment ideas:

  1. Technology giant Microsoft is getting ready to storm new highs! Let’s make money on it!
  2. Buy Citigroup Inc. shares now and make a profit in early October!

Аналитическая рассылка

Analytical newsletter
Subscribe to the analytical newsletter to be up-to-date with current events!

Вы с украины?