A few moments ago investors were offered The Energy Information Administration’s (EIA) report. The weekly data showed an unexpected crude oil inventories build-up and totally missed market expectations. Gasoline inventories fell even more than expected while distillate inventory showed a huge build-up as well. The exact results were as follows:
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Crude Oil Inventories: 5654k (vs expected: -3188.60k)
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Gasoline Inventories: -4839k (vs expected: -218.10k)
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Distillate Inventory: 3135k (vs expected: -127.00k)
After a huge increase of crude oil inventories in recent weeks, stocks are still on the rise. Source: Bloomberg
