Publication of report from the US Department of Energy caused some moves on the oil market. Crude inventories jumped unexpectedly while gasoline and distillate stockpiles dropped more than expected.
• Oil inventories: +1.117mb vs -1.565 mb expected (API: +3.262 mb)
• Gasoline inventories: -6.4 mb vs -1.677 mb (API: -1.09 mb)
• Distillate inventories: -3.313 mb vs -1.5 mb (API: -1.84 mb)
• Oil inventories at Cushing, Oklahoma: - 1.063 million barrels vs -1.558 million barrels previously
WTI Crude Oil (OIL.WTI) price bounced off local upward trendline and is testing resistance at $70.15. Source:xStation5
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