- Oil inventories rose by nearly by 3.4 million barrels last week and market expected an increase of 3 million barrels. Previously it was nearly 16 million barrels increase.
- Gasoline inventories: -1,7 mb (forecast: -2,0 mb; previously: -1,0 mb)
- Distillate inventories: 0,4 mb (forecast -2,4 mb; previously: 0,25 mb)
Oil inventories increase in line with seasonality. On the other hand, we can notice a significant increase in oil processing in the US, suggesting preparations for a recovery in demand. Source: Bloomberg Finance LP, XTB
The latest energy data and geopolitical developments are shaping a complex narrative for the oil markets:
-
Crude Oil Inventories: There has been another significant build in crude oil inventories, aligning with market expectations.
-
Gasoline Stocks: Conversely, gasoline inventories are trending lower, signaling robust underlying demand for refined fuels.
-
Geopolitical Risk Premium: Despite the domestic inventory data, the crude market remains primarily tethered to developments in the Middle East.
-
Price Action: WTI crude is currently retracing toward the $74 per barrel mark as market confidence grows that the conflict could resolve sooner than the several-week timeframe previously feared.
BREAKING: Another big increase of oil inventories despite Middle East disruption
🔴US100 Caps Gains Following Trump's Comments
BREAKING: U.S. retail sales above expectations! EUR/USD is gaining!
Market Wrap: European stocks join the bullish rally 🚀 Euro Stoxx +3%
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.
