3:36 PM · 22 March 2023

BREAKING: Oil move slightly higher after DOE inventories data

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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