U.S. Oil Inventories Data

• Crude oil inventories, fact 3,100M, forecast 1,567M.
• Cushing (Oklahoma) crude oil inventories, fact -0,201M, the previous value of 2,256M.
• EIA weekly distillate reserves, fact -2.418M, forecast -1.789M.
• Gasoline inventories, fact -0.228M, forecast 0.449M.

Crude oil inventories in the United States grew for the third consecutive week, showing the most notable increase in June this year. At the same time, distillate and gasoline reserves decreased, as an excess oil reserves in Cushing. But in the conditions of maintaining a pessimistic mood in the market and growing supply in the oil market, mixed data on stocks of oil and oil products in the USA were perceived as negative.

US Crude Oil Stock Chart

Major oil brands accelerated the decline in supply growth, confirming the safety of downtrends, but remaining oversold.

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Hanzenko Anton

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