The US Department of Energy released the latest oil inventories data. Key takeaways from the report:
-
Oil inventories: -1.5 mn (vs expected: -3.5 mn)
-
Gasoline inventories: -7.2 mn (vs expected: -4.9 mn)
-
Distillate inventories: -3.1 mn (vs expected: -2.7 mn)
Today’s drop in oil inventories is weaker than last week (-7.17 mn). Also, the figue fell short of expectations. Shortly after the release there was a slight downward pressure for WTI prices. However, the price seems to be relatively stable several minutes after the report was announced.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
OIL.WTI rebounded after a rapid drop that happened today (Suez Canal issues and China releasing its strategic reserves). The $70 per barrel mark may be the next obstacle for buyers should the upward move continue. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
