BREAKING: US Crude Stocks rise unexpectedly

3:34 PM February 24, 2021

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   

 

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