EIA Expectations: Crude 1.84M, Distillate -1.2M, Gasoline -0.272M
The latest EIA inventory data shows a significant increase in crude oil inventories at 1.84 million barrels, contrasting sharply with the previous draw of 9.01 million and the private estimate of +11.4 million.
US EIA Heating Oil Stocks Change (Feb/20) -0.119 (Prev. 0.362)
US EIA Gasoline Production Change (Feb/20) -0.223 (Prev. 0.290, Rev. From 0.29)
EIA Expectations: Crude 1.84M, Distillate -1.2M, Gasoline -0.272M
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- Crude: 1.84M, prev. -9.01M (Private +11.4M)
- Distillate: -1.2M, prev. -4.56M (Private -2.8M)
- Gasoline: -0.272M, prev. -3.21M (Private -1.5M)
- Cushing: prev. -1.095M (Private +1.8M)
- Refining: 0.6%, prev. 1.6%
- Production: prev. 13.74M
This could suggest easing supply constraints, impacting oil prices and potentially altering market sentiment, especially ahead of broader geopolitical concerns. Meanwhile, the notable draw in distillate and gasoline inventories may indicate steady demand in those segments, but the overall inventory build may weigh more heavily on crude oil pricing.
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