Data on the US oil inventories
- Crude oil inventories, fact -3.963M, forecast 1.215M.
- Cushing (Oklahoma) crude oil inventories, fact 0.821M, previous value 0.265M.
- EIA weekly distillate stocks, fact -0.159M, forecast -1.096M.
- Gasoline stocks, fact -0,596M, forecast -0,434M.
According to the EIA, stocks of crude oil and petroleum products in the United States for the week decreased significantly. This provided significant support for the cost of oil. At the same time, the reduction in oil reserves has been very significant over the past seven weeks.
U.S. crude stocks chart
Despite a noticeable reduction in oil reserves in the United States, oil exports remain near record levels, despite the fact that oil consumption also shows a record value.
Major oil brands received significant support, but are limited to weekly highs. An additional deterrent to the oil market continues to be general risks and an increase in supply.
Read also: “Singapore Dollar. Features of trade”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- What is interesting about the US Fed meeting in April and how it can affect the world banks policy?
- Stock Indices: Storming Historic Highs
- Sanctions against Iran, their aggravation and impact on the world market
Current Investment ideas: