Read more
2:31 PM · 24 May 2023

BREAKING: Oil jumps after massive draw in US inventories

OIL
Commodities
-
-
OIL.WTI
Commodities
-
-

US Energy Information Administration (EIA) released an official weekly report on US oil inventories today at 3:30 pm BST. Median expectation among economists was for a small increase in oil and distillate inventories as well as a moderate drop in gasoline inventories. However, it should be said that those expectations were compiled ahead of yesterday's API release that showed massive drops in oil and gasoline stockpiles. 

Actual report showed an even bigger drop in crude oil inventories than suggested by API. EIA data also showed an unexpected drop in distillate inventories as well as smaller than hinted by API drop in gasoline inventories.

EIA report on US oil inventories:

  • Oil inventories: -12.45 mb vs +0.8 mb expected (API: -6.8 mb)
  • Gasoline inventories: -2.05 mb vs -1.1 mb expected (API: -6.4 mb)
  • Distillate inventories: -0.56 mb vs +0.4 mb expected (API: +1.7 mb)

OIL jumped to a fresh daily higher following EIA report. Source: xStation5

29 December 2025, 3:03 PM

BREAKING: US pending home sales higher than expected 📌

29 December 2025, 10:02 AM

⏬Silver: correction or a bursting bubble?

29 December 2025, 9:44 AM

Chart of the day: PLATINUM (29.12.2025)

29 December 2025, 7:55 AM

Economic Calendar: A Quiet Post-Holiday Monday (29.12.2025)

Join over 2 000 000 XTB Group Clients from around the world

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