A weekly report from the US Department of Energy on oil inventories was released today at 3:30 pm BST. Release largely confirmed what was hinted yesterday by the API report - a big drop in crude inventories and draws in gasoline and distillate stockpiles as well. As the report did not deviate much from API's estimates, no major market reaction could be spotted on the market.
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Oil inventories: -4.52 mb vs -1.1 mb (API: -4.04 mb)
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Gasoline inventories: -3.30 mb vs -1.1 mb (API: -1.06 mb)
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Distillate inventories: -0.78 mb vs +0.5 mb (API: -0.55 mb)
WTI (OIL.WTI) ticked higher following the release of the DOE report. Scale of the move is minor as the report did not deviate much from API data released yesterday. Price is testing a short-term support zone in the $95 per barrel area. Source: xStation5
