U.S. oil inventories

• Crude oil inventories, fact -2.732M, forecast -1.889M.
• Cushing (Oklahoma) crude oil inventories, fact -2.485M, previous value -2.540M.
• EIA weekly distillate reserves, fact 2,610M, forecast 0,314M.
• Gasoline inventories, fact 0.312M, forecast 0.169M.

Crude oil inventories in the US declined after a two-week growth. Excessive oil reserves in Cushing continued to decline for the seventh consecutive week. But the stocks of distillates and gasoline showed growth, especially the stocks of distillates. Which ultimately offset the positive data on the reduction of crude oil reserves.

Fig. U.S. Crude Oil Stock Chart

As a result, the oil market was under the pressure from an increase in the supply of petroleum products. As a result, this may indicate a decrease in crude oil consumption by refineries. As a result, the report on oil reserves in the USA can be called restrained negative, exerting pressure on the oil market. The movement of major oil brands in the published report will be limited to the correction phase, as the daily strengthening of oil received support from more positive expectations.

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Hanzenko Anton

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