Data on oil reserves in the USA

Oil quotes were under pressure amid ambiguous data on oil reserves in the US that despite a decline in crude oil and gasoline stocks, showed a low level of reduction of distillates. Also, the real indicators of the EIA were significantly lower than the expectations by the API. They acted as the driver of the strengthening of oil throughout the day.

Despite this, the dynamics of crude oil reserves in the US continues to be negative, although it has slowed down the rate of decline recently. Concerning gasoline stocks, the dynamics continue to be very negative, which will act as a deterrent to the weakening of oil prices.

Recommended for reading: https://esterholdings.com/en/2017/11/01/neft-segodnya-neft-obnovlyaet-godovye-maksimumy/ and https://esterholdings.com/en/2017/11/01/oil-current-news-12/

Hanzenko Anton