BREAKING: OIL gains after inventory report

US Department of Energy (DOE) released an official, weekly report on US oil inventories today at 3:30 pm BST. Report was expected to show an over-million barrels declines in all three major categories. However, private API report released yesterday in the evening suggested that oil, gasoline and distillate inventories all increased.

Actual data showed turned out to be mixed - oil inventories declined slightly more than expected, while gasoline and distillate inventories saw unexpected inventory builds. However, builds in gasoline and distillate inventories were smaller than suggested by yesterday's API release.

DOE report on US oil inventories:

• Oil inventories: -1.36 mb vs -1.2 mb expected (API: +0.51 mb)
• Gasoline inventories: +0.92 mb vs -1.4 mb expected (API: +1.46 mb)
• Distillate inventories: +0.56 mb vs -1.2 mb expected (API: +1.71 mb)

Source: xStation5