Data on the US oil inventories
- Crude oil inventories, fact -1,208M, forecast -2,990M
- Cushing (Oklahoma) Crude oil inventories, fact 1,148M, previous value 1,729M.
- Weekly distillate stocks according to EIA, fact -1.475M, forecast 1,801M.
- Gasoline stocks, fact 2,087M, forecast 2,461M.
The EIA weekly report on the oil inventories the USA turned out to be very negative, which was caused by a less significant decrease in crude oil reserves in the US than expected, and an increase in gasoline stocks.
Graph of the US crude stocks
As a result, this report returned negative sentiment to the oil market, which are due to the continued high level of supply.
Hanzenko Anton
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