Oil futures (OIL) have recovered part of their earlier losses and are moving back toward $95 per barrel.
- EIA crude oil inventories fell by 4.45 million barrels, compared with expectations for a 0.06 million increase and the previous 0.095 million rise.
- EIA gasoline inventories declined by 1.173 million barrels, versus expectations for a 1.6 million drop and the previous 2.536 million decline.
- EIA distillate inventories increased by 0.796 million barrels, compared with expectations for a 1.5 million decline and the previous 2.228 million drop.
- Crude oil inventories at Cushing rose by 0.08 million barrels, following the previous 1.176 million increase.
OIL (D1 interval)
Oil has moved back above its 50-day and 200-day moving averages, signaling a potential return of the broader uptrend. From a price action perspective, the key resistance zone is around $98–100, while support is located near $85.
Source: xStation5
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