15:34 · 24 April 2024

BREAKING: WTI ticks higher after oil inventory data

OIL.WTI
Commodities
-
-
OIL
Commodities
-
-

US Department of Energy (DOE) released an official weekly report on US oil inventories today at 3:30 pm BST. Report was expected to show a build in headline crude oil inventories, as well as declines in gasoline and distillate stockpiles. However, private API report released yesterday in the evening suggested a drop in oil inventories as well as build in distillate stockpiles.

Actual data released by DOE today has confirmed direction set by API report, although magnitude of builds and draws differed. Headline oil inventories slumped over 6 million barrels, while build in distillate stockpiles exceeded 1.6 million barrels. Gasoline inventories declined more or less in-line with API suggestions.

DOE report on US oil inventories:

  • Oil inventories:  -6.37 mb vs +1.7 mb expected (API: -3.23 mb)
  • Gasoline inventories: -0.63 mb vs -1.4 mb expected (API: -0.60 mb)
  • Distillate inventories: +1.61 mb vs -0.9 mb expected (API: +0.72 mb)

Oil prices jumped in a knee-jerk move, reacting to a massive draw in headline crude oil inventories. Overall, scale of market reaction to the data was rather small.

Source: xStation5

16 October 2025, 08:55

Economic calendar: US Philly Fed and central bankers speeches in focus

16 October 2025, 07:08

BREAKING: UK manufacturing data slightly stronger than expected; GDP lags slightly

16 October 2025, 06:57

Morning wrap (16.10.2025)

15 October 2025, 15:11

Fed's Miran signals two more rate cuts this year and disinflationary process🗽

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.

Join over 1.7 Million investors from around the world