BREAKING: Strong Increase in U.S. Crude Oil Inventories

Key Data:

Oil inventories: 3.94 mb (forecast: - 1mb; prior: 2.42mb)
Gasoline: 1.46 mb (forecast: -0.2 mb; prior: -3.8mb)
Distillates: 4.7mb (forecast: 0.1mb; prior: 1.68mb)

Crude oil inventories according to the DOE increased last week by 3.94 million barrels (expectations were for a decline of 1 million barrels, previously there was an increase of 2.42 million barrels). Gasoline inventories rose by 1.46 million barrels (expectations were for a decline of 0.2 million barrels, previously there was a decrease of 3.8 million barrels). Meanwhile, distillate inventories increased by 4.72 million barrels (expectations were for a slight rise of 0.1 million barrels, previously there was an increase of 1.68 million barrels).

Source: xStation5

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