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BREAKING: US oil inventories rose 3rd week in a row

3:32 PM 3 May 2023

Crude Oil Inventories: -1.280M (Forecast -0.5M, Previous -5.054M)

Gasoline Inventories: 1.743M (Forecast -1.5M, Previous -2.408M)

Distillate Inventories: -1.191M (Forecast -0.8M, Previous -0.576M)

Crude oil inventories decreased 3rd week in a row and fell more than expected. on the other hand gasoline inventories increase which may be a signal of weakening demand. WTI oil price continues its hard decline and breaks below 69 USD per barrel.

Source: xStation5

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