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BREAKING: US oil inventories down but price with no reaction!

4:42 PM 16 August 2023

Decrease in oil inventories by 7 million! A drop of 2 million brk was expected with a previous increase of 5.85 million

Gasoline stocks fall by only 260 thousand with an expected drop of 1.6 million and a previous drop of 2.66 million

Distillate stocks rise by 300,000 on expectations of a 500,000  decline and with a previous decline of 1.7 million. 

Oil reacted positively in the first reaction, but gains were quickly subdued near $81. Oil still moves near daily lows.

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