Publication of report from the US Department of Energy caused some moves on the oil market. Crude inventories rose unexpectedly, while gasoline stockpiles increased more than expected. There was a surprise in distillate inventories data as it showed a big decline, contrary to market expectations.
• Oil inventories: +8.41mb vs -0.593 mb expected (API: +7.6 mb)
• Gasoline inventories: +3.483 mb vs +2.529 mb (API: +2.8 mb)
• Distillate inventories: -1.939 mb vs +0.122 mb (API: -1.8 mb)
• Oil inventories at Cushing, Oklahoma: +3.646 million barrels vs +2.511 million barrels previously
WTI Crude Oil (OIL.WTI) price rose after the release of today's EIA report and is heading towards local resistance level at $81.00. Source:xStation5
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