BREAKING: OIL reduces losses after DOE report

BREAKING: OIL reduces losses after DOE report
BREAKING: OIL reduces losses after DOE report

The U.S. Department of Energy (DOE) today released an official weekly report on U.S. crude oil inventories at 4:30 p.m. The report was expected to show a decline in crude oil inventories, as well as a decrease in gasoline and distillate inventories. However, the API report yesterday suggested a larger-than-expected drop in oil stocks, an unexpected drop in gasoline stocks, and a smaller-than-expected increase in distillate stocks.

The actual DOE report showed a larger-than-expected drop in crude oil inventories, but smaller than suggested by API data yesterday. Stocks of gasoline and distillates fell slightly. Overall, the report was bullish for prices and such a reaction can be seen in the markets, with oil rebounding from daily lows.

DOE Report on U.S. Crude Oil Inventories

  • Oil stocks: -2.51 million barrels versus -1.2 million barrels expected (API: -3.10 million barrels)
  • Gasoline stocks: -0.24 million barrels versus +0.3 million barrels expected (API: -1.27 million barrels)
  • Distillate stocks: -0.05 million barrels versus +0.8 million barrels expected (API: +0.35 million barrels)

Brent (OIL) rebounded from two-month lows following the release of the DOE’s slightly bullish report on U.S. crude oil inventories. Source: xStation5

“This content is a marketing communication within the meaning of Article 24(3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/ 92 /EC and Directive 2011/61 /EU (MiFID II) The marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No. 596/. 2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Directives 2003/124/EC, 2003/125 / EC and 2004/72 / EC of the Commission and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No. 596/2014 of the European Parliament and of the Council with regard to standards regulatory techniques relating to technical arrangements for the objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for the disclosure of special interests or indications of conflicts of interest or any other advice, including in the field of investment advice, within the meaning of article L321-1 of the Monetary and Financial Code. All information, analyzes and training provided are provided for informational purposes only and should not be interpreted as advice, a recommendation, a solicitation for investment or an inducement to buy or sell financial products. XTB cannot be held responsible for the use made of it and the resulting consequences, the final investor remaining the sole decision-maker regarding the position taken on their XTB trading account. Any use of the information mentioned, and in this regard any decision taken in relation to a possible purchase or sale of CFDs, is the exclusive responsibility of the final investor. It is strictly prohibited to reproduce or distribute all or part of this information for commercial or private purposes. Past performance is not necessarily indicative of future results, and anyone acting on such information does so entirely at their own risk. CFDs are complex instruments and carry a high risk of rapid loss of capital due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You need to make sure that you understand how CFDs work and that you can afford to take the likely risk of losing your money. With the Limited Risk Account, the risk of losses is limited to the capital invested.”

-

-

PREV “We trans people are like everyone else! », says Karla Sofía Gascón, star of the new Audiard
NEXT “I grabbed her leg and pulled”: how Fabrilene saved her colleague from a burning car