EIA Expectations: Crude 1.1M, Distillate 2.2M, Gasoline 2.9M
Newsquawk Staff ·
- Crude: 1.1M, prev. -1.93M (Private -2.8M)
- Distillate: 2.2M, prev. 4.97M (Private +4.9M)
- Gasoline: 2.9M, prev. 5.84M (Private +4.4M)
- Cushing: prev. 0.543M (Private +0.7M)
- Refining: -0.1%, prev. 0.1%
What it means
The EIA expectations for crude, distillates, and gasoline indicate rising inventories in all three categories, particularly crude which is set to increase by 1.1M barrels from a prior decline. This suggests potential oversupply in the market, which may exert downward pressure on prices. Investors should also consider how this data aligns with the refining activity decrease and the implications for demand in the broader energy landscape.
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