Crude oil inventories (DoE report): -10.584 million brk (expected: -3.267 million brk; previous: -6.135 million brk)
Distillate inventories: 1.235 million brk (expected: -1 million brk; previous: 0.945 million brk)
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Open account Try demo Download mobile app Download mobile appGasoline inventories: -0.214 million brk (expected: -1.25 million brk; previous: 1.467 million brk)
Oil responds with a continuation of strong increases. It turns out that the reduction in production by OPEC+ and the simultaneous reduction in exports are quite strongly affecting the supply situation in the US.
At the same time, fuel production remains high, leading to an increase in distillate stocks and a slight decline in gasoline inventories. At the same time, the DoE reports an increase in strategic reserves of about 500,000 brk. However, it's worth mentioning that this is an increase for the whole week, and not so long ago reserves of up to 1 million brk per day were released!
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