US Department of Energy (DOE) issued an official, weekly report on US oil inventories today at 3:30 pm BST. Report was expected to show an increase in headline crude oil inventories, as well as declines in gasoline and distillate stockpiles. API reported released yesterday in the evening matched expected directions of moves, but hinted at a bigger magnitude than suggested by expectations.
Actual data turned out to be a positive surprise for prices. While headlien crude inventories increase more than expected, build was smaller than suggested by API yesterday. Meanwhile, gasoline inventories and, especially, distillate inventories dropped more than expected.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appOil jumped following the report, although the scale of the move was minimal.
DOE report on US oil inventories
- Oil inventories: +2.74 mb vs +1.4 mb expected (API: +4.09 mb)
- Gasoline inventories: -1.15 mb vs -1.0 mb expected (API:-2.51 mb)
- Distillate inventories: -2.76 mb vs -0.3 mb expected (API: -0.43 mb)
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.
