Report from the US Department of Energy caused some moves on the oil market. Crude inventories rose less than expected while gasoline stockpiles dropped unexpectedly. There was a surprise in distillate inventories data as it showed a bigger then expected decline.
• Oil inventories: +0.692 million barrels vs +2.0 million barrels expected (API: +4.78 million barrels)
• Gasoline inventories: - 1.573 million barrels vs +0.808 million barrels expected (API: +1.14 million barrels)
• Distillate inventories: -1.449million barrels vs -0.6 million barrels expected (API: -3.91 million barrels)
• Oil inventories at Cushing, Oklahoma: +1.298 million barrels vs -0.185 million barrels previously
The publication of today's report pushed the oil prices slightly higher. WTI Oil (OIL.WTI) continues to trade above the psychological $100.00 level. Source: xStation5
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