BREAKING: Massive increase in US oil reserves!

Weekly change in fuel stocks

Change in crude oil inventories: actual 8,53 milion barrels (forecast 1 million barrels; previous -3.46 million barrels)
Change in gasoline inventories: actual 1,16 milions barrels (forecast -0.4 million barrels; previous 0.68 million barrels)
Change in distillate inventories: actual -2,7 milion barrels (forecast -1.2 million barrels; previous -5.55 million barrels)

Crude oil inventories rose by 8.53 million barrels, significantly above the forecast of 1 million barrels and a sharp reversal from the previous decrease of -3.46 million barrels. This unexpected build in crude stocks could put short-term downward pressure on oil prices.

Source: xStation5

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Commodities

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