Report from the US Department of Energy failed to trigger big moves on the oil market. Crude inventories fell unexpectely while gasoline stockpiles dropped more than expected. There was a surprise in distillate inventories data as it showed a big build, contrary to market expectations.
• Oil inventories: - 3.394million barrels vs +1.383 million barrels expected (API: -2.44 million barrels)
• Gasoline inventories:- 4.779million barrels vs -1.333 million barrels expected (API: -5.10 million barrels)
• Distillate inventories:+ 1.235 million barrels vs -0.8 million barrels expected (API: +1.07 million barrels)
• Oil inventories at Cushing, Oklahoma: - 2.403million barrels vs -0.587 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 $109.25 level. Source: xStation5
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