EIA Expectations: Crude -2.2M, Distillate -0.2MM, Gasoline 4M
Newsquawk Staff ·
- Crude: -2.2M (prev. -3.831M, Private +5.2M)
- Distillate: -0.2M (prev. 5.594M, Private +4.3M)
- Gasoline: 4M (prev. 7.702M, Private +8.2M)
- Cushing: 0.728M (Private +0.9M)
- Weekly Crude Production: 13.8M
What it means
The EIA data indicates a draw in crude oil inventories of 2.2 million barrels, slightly less than the previous draw, which may suggest a stabilizing supply backdrop. However, the gasoline inventory build of 4 million barrels, significantly above expectations, could signal weaker demand, potentially impacting future prices and inflation expectations in the energy sector.
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