EIA Expectations: Crude -2.2M, Distillate -0.2MM, Gasoline 4M
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.
US EIA Cushing Crude Oil Stocks Change (Jan/09) 0.745 (Prev. 0.728)
The US has reportedly informed its personnel in Saudi Arabia to exercise caution
EIA Expectations: Crude -2.2M, Distillate -0.2MM, Gasoline 4M
US Supreme Court, SCOTUS, does not rule on tariffs today
US Secretary of War Hegseth will host the Japanese defence Minister on 15th January
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- 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
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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