US Energy Information Administration (EIA) released an official weekly report on US oil inventories today at 3:30 pm BST. Market expected builds in oil and gasoline inventories while private estimates from API released yesterday in the evening pointed to draws in both. Actual report showed a massive 9.6 million barrel draw in headline crude inventories. Build in gasoline inventories was smaller-than-expected while distillate inventories increased in-line with expectations.
Oil prices jumped following the release with WTI (OIL.WTI) moving above $68 per barrel while Brent (OIL) is testing $73 area.
EIA report on oil inventories
- Oil inventories: -9.60 mb vs +1.4 mb expected (API: -2.41 mb)
- Gasoline inventories: +0.60 mb vs +1.3 mb expected (API: -2.85 mb)
- Distillate inventories: +0.12 mb vs +0.1 mb expected (API: +0.78 mb)
OIL.WTI at H1 interval. Source: xStation5
Daily Summary - Powerful NFP report could delay Fed rate cuts
BREAKING: Massive increase in US oil reserves!
BREAKING: US100 jumps amid stronger than expected US NFP report
Market wrap: Oil gains amid US - Iran tensions 📈 European indices muted before US NFP report
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.
