Publication of report from the US Department of Energy caused some moves on the oil market. Crude inventories fell more than expected while gasoline stockpiles increased more than expected. There was a surprise in distillate inventories data as it showed a big build, contrary to market expectations.
• Oil inventories: -5.40 mb vs -0.44 mb expected (API: -5.83 mb)
• Gasoline inventories: +2.207 mb vs +0.31 mb (API: +1.69 mb)
• Distillate inventories: +1.120 mb vs -0.513 mb (API: +0.85 mb)
• Oil inventories at Cushing, Oklahoma: - 1.624million barrels vs -0.923 million barrels previously
WTI Crude Oil (OIL.WTI) price bounced off major support at $84.00 after the release of today's EIA report. Source:xStation5
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