Crude inventories in the US rose by 1.285 million barrels in the week ended February 19th, following a 7.258 million decrease in the previous week and compared with analysts’ estimates of a 5.19 million drop, according to the EIA Petroleum Status Report.
Cushing Crude Oil inventories rose to 2.807 million barrels, following a 3.028 million barrels decrease from last week.
Gasoline inventories rose by 0.012 million barrels, following a 0.672 million increase in the prior period and above analysts’ expectations of 3.062 million barrels decline.
WTI Crude Oil (OIL.WTI) price broke above $63.05 resistance level after the release of today's EIA report and may be heading towards next resistance at $64.30. Source:xStation5