BREAKING: US crude stocks rise more than expected

4:34 PM 9 November 2022

Publication of today's report from the US Department of Energy failed to trigger big moves on the oil market. Crude inventories jumped more than expected while gasoline stockpiles decreased less thah market estimated. There was a surprise in distillate inventories data as it showed a smaller decrease, compared to market expectations and yesterday's API release

• Oil inventories: +3.93mb vs +1.36 mb expected (API: +5.62 mb)

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• Gasoline inventories: -0.899 mb vs -1.08 mb (API: +2.55 mb)

• Distillate inventories: -0.521mb vs -0.9 mb (API: -1.77 mb)

• Oil inventories at Cushing, Oklahoma: - 0.923million barrels vs +1,257 million barrels previously

The publication of today's report did not have a significant impact on the oil prices. WTI Oil (OIL.WTI) continues to trade around the $87.40 level. Source: xStation5

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