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BREAKING: Record drop of US crude inventories!

3:32 PM 2 August 2023

  • Oil inventories. Actual: -17,04 mb Expected: -0.9 mb (API: -15.4 mb)

  • Gasoline inventories. Actual: 1,48 mb  Expected: -1.4 mb (API: -1.68 mb)

  • Distillate inventories. Actual: -0,79 mb  Expected: +0.8 mb (API: -0.51 mb)

Although the EIA reading was one of the lowest in history, WTI prices do not react to this reading and prolong the dynamic downward movement in the face of broad market uncertainty.

Source: Bloomberg Finance L.P. via JavierBlas

WTI oil is down more than 2.5% today. Source: xStation 5

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