A report from the U.S. Department of Energy bolstered oil prices despite a rise in crude inventories. Gasoline inventories fell unexpectedly. Distillate inventories came as a positive surprise, beating market expectations.
• Change in US crude inventories: +2.025 million (expected: -2.5 million; prior: -5.068 million)
• Gasoline inventories: -0.812 million (expected: 0.8 million; prior: -0.711 million)
• Distillate inventories: 2.592 million (expected: 0.6 million; prior: -0.53 million)
The report is rather negative for prices, although in the first response prices rebounded after the declines of the last few dozen minutes. However, the price eventually tries to head south.
Source: xStation 5
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