Publication of today’s report from the US Department of Energy caused minor moves on the oil market. Crude inventories unexpectedly jumped above 18 mb, while gasoline stockpiles increased more than expected. There was a surprise in distillate inventories data as it showed a big decline, contrary to yesterday's API release
• Oil inventories: +18.961 mb vs -2.243 mb expected (API: +14.86 mb)
• Gasoline inventories: +4.114 mb vs +1.186 mb (API: +1.8 mb)
• Distillate inventories: -1.069 mb vs -0.472 mb (API: +1.1 mb)
• Oil inventories at Cushing, Oklahoma: +2.511 million barrels vs +0.244 million barrels previously
The publication of today's report did not have a significant impact on the oil prices. WTI Oil (OIL.WTI) continues to trade around the $76.20 level. Source: xStation5
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