BREAKING: Huge oil inventories increase. Oil rebounds from $60

Crude oil inventories in the US: +5.2 mb (forecast: -0.286 mb; prior: -6.858 mb)

Gasoline inventories: -4.7 mb (forecast: -1.8 mb; prior: -5.9 mb)

Distillate inventories: -0.643 mb (forecast: -2.5 mb; prior: -3.3 mb)

Crude oil inventories have risen significantly, accompanied by a sharp decline in gasoline and distillate inventories. This is due to a decline in refining capacity utilization, but also to a recovery in fuel demand in the US. Crude oil is currently attempting to rebound after the declines that occurred in the early afternoon, reacting to the support level at $60 per barrel.

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Commodities

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