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 declines in oil and gasoline inventories as well as a minor uptick in distillate inventories. However, private API report released yesterday in the evening hinted to a deeper than expected draws in oil and gasoline inventories, as well as an unexpected drop in distillate inventories.
DOE data released today has been more or less in-line with API report released yesterday. However, a reported drop in gasoline inventories was almost twice as large as suggested by API, while oil and distillate inventories were mostly in-line with API print.
إبدأ بالإستثمار اليوم أو تدرّب على حساب تجريبي
إنشاء حساب حساب تجريبي تحميل تطبيق الجوال تحميل تطبيق الجوالReport can be seen as bullish for oil and such is the reaction of the market - Brent (OIL) and WIT (OIL.WTI) moved around 0.3-0.4% higher following DOE release.
DOE report on US oil inventories
- Oil inventories: -3.74 mb vs -2.5 mb expected (API: -3.9 mb)
- Gasoline inventories: -5.57 mb vs -0.5 mb expected (API: -2.8 mb)
- Distillate inventories: -1.71 mb vs +0.1 mb expected (API: -1.5 mb)
Brent (OIL) gained following release of US inventory data and erased daily drop. OIL is now trading around 0.2% higher on the day. Source: xStation5
