EIA Expectations: Crude 1.38M, Distillate -0.947M, Gasoline -2.9M
Newsquawk Staff ·
- Crude: 1.38M, prev. 3.47M (Private -1.7M)
- Distillate: -0.947M, prev. 0.429M (Private -2.3M)
- Gasoline: -2.9M, prev. -1.7M (Private -1.8M)
- Cushing: prev. 1.564M (Private -0.4M)
- Refining: 0.5%, prev. 0.6%
- Production: prev. 13.696M
What it means
The EIA expectations signal a substantial decline in gasoline inventories and a mixed picture for crude and distillate stocks. Specifically, the anticipated drop in gasoline by 2.9M suggests robust demand or supply tightness, which could support WTI and Brent prices. Overall, these numbers could lead to upward pressure on crude oil prices while reflecting the ongoing balancing act between production and refining capacity.
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