DOE report on US oil inventories.
• Oil inventories. Actual: -7,056 mb Expected: -0.275 mb (API: -0.45 mb)
• Gasoline inventories. Actual: -4.642 mb Expected: -1.096 mb (API: -4.48 mb)
• Distillate inventories. Actual: +766 mb Expected: +0.44 mb (API: -0.76 mb)
SPR crude stock fell to lowest since 1985. Source: Bloomberg
Source: Bloomberg via ZeroHedge
OIL.WTi chart, M30 interval. Source: xStation5
Oil down nearly 5% following the announcement that European diesel reserves will be released💡
🟡Gold takes a breath, because of oil, not NFP
Daily Summary: Wall Street Recovers as Micron Shines and Oil Prices Rise Again
The US has a Diesel problem. Now Europe is being asked to open its reserves