The U.S. Department of Energy (DOE) released the official weekly report on U.S. oil inventories today at 4:30 p.m. The report was expected to show a decline in all three main categories – oil, gasoline and distillates. However, API’s private report released yesterday suggested a notable increase in crude stocks as well as a sharp increase in gasoline stocks.
The DOE report turned out to be a bearish surprise – crude oil and gasoline stocks rose unexpectedly, while distillate stocks fell much less than expected and less than the DOE report suggested. Yesterday’s API. Oil fell following the release, with Brent (OIL) now trading about $0.35 per barrel lower than levels before the DOE report.
DOE Report on U.S. Oil Inventories
- Oil stocks: +3.59 mb vs -3.0 mb expected (API: +0.91 mb)
- Stocks d’essence : +2,65 mb vs -1,1 mb attendu (API : +3,84 mb)
- Distillate stocks : -0.38 mb vs -1.5 mb attended (API : -1.18 mb)
Source: xStation5
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