US EIA Crude Oil Stocks Change (Jan/16) 3.602M vs. Exp. 1.1M (Prev. 3.391M)
The US EIA reported a crude oil stocks increase of 3.602M barrels, significantly above the expected rise of 1.1M.
Bank of America (BAC) and Citigroup (C) weigh new credit cards with 10% rate, Bloomberg reports
US 30-yr fixed rate mortgage averages 6.09% in Jan 22 week vs 6.06% prior week
US EIA Crude Oil Stocks Change (Jan/16) 3.602M vs. Exp. 1.1M (Prev. 3.391M)
Copper production at a Capstone Copper Corp. mine in northern Chile has halted amid a nearly three-week labour strike, Bloomberg reports
Atlanta Fed GDPnow (Q4): 5.4% (prev. 5.4%)
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This larger-than-anticipated build suggests weakening demand or supply pressures, which could impact prices negatively in the short term. Traders should consider the broader context of supply dynamics and potential geopolitical implications for the oil market.
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