Key Data:
- Oil inventories: -2.4 mb (forecast: - 2mb; prior: -6.0mb)
- Gasoline: -1.2 mb (forecast: -1.6 mb; prior: -2.7mb)
- Distillates: -1.786mb (forecast: 0.5mb; prior: 2.3mb)
Refinery utilization rates have dropped by 2 percentage points compared to last week, yet we observe a significant decline in inventories. Crude oil stocks fell by 2.4 million barrels, with gasoline and distillate inventories also showing notable decreases. Strong fuel demand persists, supporting the ongoing rebound in oil prices, which are approaching the $64 per barrel level.
Source: xStation5
Daily Summary: A Rollercoaster Ride in the Commodities Market🚨Oil Drops 7%; Gold Rallies Over 2%💥
🚨Oil and gas in Europe in a panic sell-off
Chart of the Day: Brent crude falls despite Trump's words about no desire to negotiate
Economic Calendar - Global series of industrial PMI indicators and tech giants' results