EIA Expectations: Crude -0.58M, Distillate -1.5M, Gasoline -1.4M
Newsquawk Staff ·
- Crude: -0.58M, prev. 3.82M (Private +6.6M)
- Distillate: -1.5M, prev. -1.34M (Private -1.4M)
- Gasoline: -1.4M, prev. -3.65M (Private -4.6M)
- Cushing: prev. 0.117M (Private +0.8M)
- Refining: 0.4%, prev. 1.6%
- Production: prev. 13.678M
What it means
The EIA report indicates a modest draw in crude oil inventories, down -0.58M, which diverges significantly from the private forecast of a large build. The decreases in distillate and gasoline inventories suggest tightening supply, especially for gasoline, which could support prices amid ongoing geopolitical tensions. Overall, this data may boost bullish sentiment in the energy market as it conflicts with previous expectations of builds.
- ADNOC reportedly informed some Asian refiners that it may begin delivering Upper Zakum crude via a new pipeline to the Fujairah terminal in early 2027, allowing shipments to bypass the disrupted Strait of Hormuz, according to Bloomberg
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