BREAKING: US oil inventories much lower! OIL.WTI tests $82 level 📈

3:43 PM 30 August 2023

Crude oil inventories (DoE report): -10.584 million brk (expected: -3.267 million brk; previous: -6.135 million brk)

Distillate inventories: 1.235 million brk (expected: -1 million brk; previous: 0.945 million brk)

Gasoline inventories: -0.214 million brk (expected: -1.25 million brk; previous: 1.467 million brk)

Oil responds with a continuation of strong increases. It turns out that the reduction in production by OPEC+ and the simultaneous reduction in exports are quite strongly affecting the supply situation in the US.

At the same time, fuel production remains high, leading to an increase in distillate stocks and a slight decline in gasoline inventories. At the same time, the DoE reports an increase in strategic reserves of about 500,000 brk. However, it's worth mentioning that this is an increase for the whole week, and not so long ago reserves of up to 1 million brk per day were released!

Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits