US EIA Crude Oil Stocks Change (Jan/23) -2.296M vs. Exp. -0.200M (Prev. 3.602M)
The recent EIA crude oil stocks report shows a significant draw of 2.296 million barrels, surpassing the expected decline of only 0.200 million.
US State Secretary Rubio says that relations with Greenland are in a good place; processes are in place to ensure a good outcome
BoC Deputy Rogers says that this is a big year for mortgage renewals and they expect rollovers to see pay increases
US EIA Crude Oil Stocks Change (Jan/23) -2.296M vs. Exp. -0.200M (Prev. 3.602M)
US Secretary of State Rubio says that Venezuela under Maduro posed a strategic risk to the US and it will take time for the transition out of Maduro to take place
US Treasury Secretary Bessent there will be some "exciting announcements" coming today
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This substantial reduction relative to expectations could indicate stronger-than-anticipated demand or supply constraints, which may positively influence oil prices and reflect tighter market conditions moving forward.
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