US Energy Information Administration (EIA) released an official weekly report on US oil inventories today at 3:30 pm BST. Private API report released yesterday pointed to a slightly smaller than expected draw in headline crude inventories as well as an unexpected build in gasoline stockpiles.
Actual data from EIA showed a much deeper draw in headline crude inventories than expected - a 6.13 million barrel drop. Gasoline inventories were 1.49 mb higher than a week ago while distillate inventories increased 0.95 mb. Oil prices moved higher following the release but scale of the move was not major.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appEIA report on US oil inventories
- Oil inventories: -6.13 mb vs -2.9 mb expected (API: -2.42 mb)
- Gasoline inventories: +1.49 mb vs -1.0 mb expected (API: +1.90 mb)
- Distillate inventories: +0.95 mb vs +0.3 mb expected (API: -0.15 mb)
Brent (OIL) trades around 0.4% higher compared to levels from before the release of the EIA report. OIL is trying to rebound from the $82.25 area. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
