Publication of report from the US Department of Energy failed to trigger big moves on the oil market. Crude inventories fell more than expected, while gasoline stockpiles increased significantly. There was a surprise in distillate inventories data as it showed bigger than expected build.
• Oil inventories: - 5.187mb vs -3.305 mb expected (API: -6.4 mb)
• Gasoline inventories: +5.320 mb vs +2.7 mb (API: +5.9 mb)
• Distillate inventories: +6.159 mb vs +2.1 mb (API: +3.6 mb)
• Oil inventories at Cushing, Oklahoma: - 0.373 million barrels vs -0.415 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 $74.50 level. Source: xStation5
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