3:51 PM · 9 October 2019

Breaking: Oil dips after inventory build

There’s been a bit of a pullback in the Oil markets following the release of the latest US inventory data with both Oil and Oil.WTI paring their earlier gains. The latest EIA report gave the following figures:

 
  • Oil inventories: +2.9M vs +1.9M exp. API: +4.1M

  • Gasoline: -1.2M vs -0.9M exp. API: -5.9M

  • Distillates: -3.9M vs -2.0M exp. API; -4.0M

  • Refinery utilistation: -0.7% vs -0.35%

 

On the whole this is a fairly mixed release with the headline rising more than expected (but less than the API) but both gasoline and distillates showing drawdowns.

Oil pulled back from near its highest level in a week after the inventory data was released but the figures themselves should not be seen as too negative. The market is searching for direction in the near term and trading around the H1 cloud. Source: xStation 

 

27 August 2026, 2:13 PM

Market Wrap: Defence bucks declines in Europe. Dollar stabilises before Jackson Hole (27.08.2026)

27 August 2026, 1:50 PM

Rising Natgas Prices: Winter Outlook

27 August 2026, 11:46 AM

Technical analysis: Silver tests a key support level. What comes next?

27 August 2026, 8:18 AM

🌾Chart of the day: Why is wheat gaining so strongly?

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits