BREAKING: Oil move slightly higher after DOE inventories data

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Publication of report from the US Department of Energy caused some moves on the oil market. Crude inventories jumped unexpectedly while gasoline and distillate stockpiles dropped more than expected.

• Oil inventories: +1.117mb vs -1.565 mb expected (API: +3.262 mb)

• Gasoline inventories: -6.4 mb vs -1.677 mb (API: -1.09 mb)

• Distillate inventories: -3.313 mb vs -1.5 mb (API: -1.84 mb)

• Oil inventories at Cushing, Oklahoma: - 1.063 million barrels vs -1.558 million barrels previously

WTI Crude Oil (OIL.WTI) price bounced off local upward trendline and is testing resistance at $70.15. Source:xStation5

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