BREAKING: Oil inventories fell lower than expected

Key Data:

Oil inventories: -2.4 mb (forecast: - 2mb; prior: -6.0mb)
Gasoline: -1.2 mb (forecast: -1.6 mb; prior: -2.7mb)
Distillates: -1.786mb (forecast: 0.5mb; prior: 2.3mb)

Refinery utilization rates have dropped by 2 percentage points compared to last week, yet we observe a significant decline in inventories. Crude oil stocks fell by 2.4 million barrels, with gasoline and distillate inventories also showing notable decreases. Strong fuel demand persists, supporting the ongoing rebound in oil prices, which are approaching the $64 per barrel level.

Source: xStation5

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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.

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