BREAKING: Oil move higher after weekly US inventory data

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Publication of report from the US Department of Energy caused some moves on the oil market. Crude inventories jumped more than expected, while gasoline stockpiles dropped unexpectedly. There was a surprise in distillate inventories data as it showed a small build, contrary to market expectations and yesterday's API release

• Oil inventories: +1.166mb vs +0.457 mb expected (API: +6.20 mb)

• Gasoline inventories: -0.874mb vs +0.464 mb (API: -1.77 mb)

• Distillate inventories: +0.179mb vs -0.462 mb (API: -0.34 mb)

• Oil inventories at Cushing, Oklahoma: +0.307 million barrels vs +0.700 million barrels previously

WTI Crude Oil (OIL.WTI) bounced off support at $76.10 and is moving towards 50 SMA (green line). Source:xStation5

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BREAKING: Oil move higher after weekly US inventory data

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