Crude inventories in the US rose by 2.396 million barrels in the week ended March 12th, following an 13.798 million increase in the previous week and compared with analysts’ estimates of a 2.964 million advance, according to the EIA Petroleum Status Report.
Cushing Crude Oil inventories dropped to -0.624 million barrels, following a 0.526 million barrels increase from last week.
Gasoline inventories rose by 0.472 million barrels, following a 11.869 million barrels decrease in the prior period and above analysts’ expectations of 2.996 million barrels decline.
US distillate inventories increased to 0.255 million barrels compared to market forecasts of a 3.5 million drop.
WTI Crude Oil (OIL.WTI) price broke below the $64.30 support level after the release of today's EIA report and may be heading towards next support level at $63.05. Source:xStation5
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