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BREAKING: Oil ticks lower after EIA data 📌

3:34 PM 23 October 2024

03:30 PM BST, United States - EIA Data:

  • Crude Oil Inventories: actual 5.474M; forecast 0.800M; previous -2.191M;
  • EIA Weekly Distillates Stocks: actual -1.140M; forecast -2.000M; previous -3.534M;

OIL.WTI reached as high as $71.40 per barrel today, but this gain has been reduced drastically after the release of the EIA report. The report for the past week showed a much larger increase in inventories than expected and compared to previous data, leading to renewed selling pressure.

 

 

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