U.S. Oil Inventories Data

• Crude oil inventories, fact 1.379M, forecast 1.543M.
• Cushing (Oklahoma) crude oil inventories, fact -2.295M, previous value -1.229M.
• EIA weekly distillate stocks, fact -0.974M, forecast -0.732M.
• Gasoline inventories, fact 1,756M, forecast 0,870M.

Crude oil inventories in the United States grew less significantly than expected. This is regarded as a driver for growth in an upward correction of the oil market. But, given the continued growth in oil reserves in the United States and, accordingly, supply, the upward trend in major oil brands remains limited.

Further growth of major oil brands is limited to a November 15 low and a  November 19 high, actually forming lateral dynamics, which can subsequently be converted into a downward reversal.

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Hanzenko Anton

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