Publication of report from the US Department of Energy failed to trigger big moves on the oil market. Crude inventories jumped more than expected while gasoline stockpiles dropped unexpectedly. There was also a surprise in distillate inventories data as it showed a big build, contrary to market expectations.
• Oil inventories: +7.648mb vs +2.083 mb expected (API: +9.89 mb)
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Open account Try demo Download mobile app Download mobile app• Gasoline inventories: -1.856 mb vs +0.108 mb (API: +0.89 mb)
• Distillate inventories: +2.698 mb vs -1.126 mb (API: +1.37 mb)
• Oil inventories at Cushing, Oklahoma: +0. 700million barrels vs +0.659 million barrels previously
The publication of today's report did not have a significant impact on the oil prices. WTI Oil (OIL.WTI) continues to trade below resistance at $76.10. Source: xStation5
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