Data on U.S. oil inventories

• Crude oil inventories, fact -8,647M, forecast 2,842M.
• Cushing (Oklahoma) сrude oil inventories , fact 1,628M,  previous value  3.413M.
• Weekly distillate stocks according to EIA, fact -0.304M, forecast -1.951M.
• Gasoline stocks, fact -1.906M, forecast -1.686M.

According to the EIA, crude oil inventories in the US for the week decreased to a maximum value to the lows of last August. It caused a rapid increase in oil prices. Previously, oil provided technical support after the decline and OPEC action to reduce the supply. Now, major oil brands are targeting weekly highs and levels before last week’s decline.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading around $ 66.60, an increase of about + 1.90% in price.

WTI crude oil trades at $ 57.10, an increase of about + 2.90% in price.

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Dani Leviant

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