U.S. Oil Reserves Data
- Crude oil inventories, fact 1,580M, forecast -2,775M.
- Cushing (Oklahoma) crude oil inventories, fact -2.540M, previous value -1.504M.
- Weekly distillate stocks according to EIA, fact -1.938M, forecast 1.529M.
- Gasoline inventories, fact -1.412M, forecast 0.025M.
Crude oil inventories in the USA continue to grow for the second consecutive week, maintaining an upward trend. On the other hand, stocks of gasoline distillates showed a noticeable reduction, which covered the negative impact of rising US oil inventories.
Fig. U.S. Crude Oil Stock Chart
As a result of the controversial EIA count on the US oil reserves, the oil market did not actually respond to published data. Earlier, the oil market and commodity assets were under the pressure to resume pessimistic sentiment. This fully played out the negative data on supply growth and actually returned the main oil brands to decline on correction after growth on Tuesday.
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