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: Hopes for peace and space stocks in the spotlight
Gold slumps 2.5% as Trump vows the escalation in the Middle East
Chart of the day: OIL rebounds sharply on Trump's Iran speech 🛢️ 📈 US will abandon Hormuz❓(02.04.2026)
Morning Wrap: Trump want to send Iran "back to the Stone Age". Indices tumble (02.04.2026)