Data on the US oil inventories

• Crude oil inventories, fact -2.683M, forecast -1.323M.
• Oil imports, fact -1,220M, the previous value of 0.626M.
• Cushing (Oklahoma) crude oil inventories, fact -0.743M, previous value 0.330M.
• EIA Weekly distillate stocks, fact 2.967M, forecast 1.565M.
• Gasoline inventories, fact 7,503M, forecast 2,769M.

The EIA report on the US oil inventories  did not meet optimistic market expectations, despite the continued decline in the US crude oil inventories for the seventh consecutive week. Also, the gasoline reserves continue to increase for the seventh week, which completely eliminates the positive effect of the reduction in crude oil inventories and strengthens the negative sentiment on the oil market.

Fig. 1. U.S. crude oil inventories chart

Fig. 2. U.S. gasoline inventories chart

Dani Leviant

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

Topical articles of the trader’s blog:

1. Geopolitical risks for the beginning of 2019! (Part 3)
2. Long-term investment in currency pairs! The GBP/USD pair!
3. Geopolitical risks for the beginning of 2019! (Part 2)

Current Investment ideas:

1. Intel Microprocessors for Macro Earnings at the Stock Exchange! Connect!
2. Fabulous profit at Walt Disney shares in January!