Breaking: Oil pulls back as inventories and production rise

The weekly crude oil inventory data has caused some selling in the oil markets with the headline rising more than expected and production in the US hitting a new record high.

The breakdown of the report was as follows:

Crude oil inventories: +2.2M vs +1.5M exp. API: -0.5M
Gasoline: +1.9M vs -1.3M exp
Distillates: -2.5M vs -1.0M exp
US production: 12.8M bpd - new record high

The initial reaction has been negative in Oil, with the market respecting resistance around the 63.30 level once more. Last week’s inventories showed a large build (+7.9M) and caused a sustained sell-off in the market. Source: xStation

15 July 2026, 7:25 AM

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14 July 2026, 6:34 PM

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14 July 2026, 4:03 PM

Bypassing Hormuz: Gulf States Race Against Time

14 July 2026, 11:52 AM

Market Wrap: Europe slips on Ormuz escalation, market awaits US CPI

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