OIL gains slightly despite inventories rise in EIA report

Oil erases early loses and gains almost 0.5% after EIA US inventories change. Report showed an unexpected rise in both oil and gasoline inventories, however, the market reacted with more aggressive oil buying. Here are the numbers from the report.

EIA Crude Oil Inventories: 2.149M (Forecast -0.09M, Previous -0.515M)
Gasoline Inventories: 0.412M (Forecast -0.52M, Previous -2.707M)
Distillate Inventories: 2.947M (Forecast -0.497M, Previous -0.977M)
Crude Cushing Inventories: 0.522M (Forecast -, Previous 0.681M)

OIL (D1 interval)

Source: xStation5

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