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BREAKING: Oil gains slightly after DoE inventories report

5:04 PM 28 December 2023

US crude OIL inventories (DoE report): -7.11M barrels vs -2.85M expected and 2.9M previously

  • Gasoline inventories: -0.575M vs -0.25M and 2.71M previously
  • Distillate inventories: 0.833M vs 0.02M exp. and 1.485M previously

EIA reports that exports of all products rose to record levels last week, but the reaction on futures is quite muted despite a much faster than expected decline both in crude oil and gasoline.

Source: xStation5

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