US EIA Cushing Crude Oil Stocks Change (Feb/20) 0.881 (Prev. -1.095)
Newsquawk Staff ·
US EIA Cushing Crude Oil Stocks Change (Feb/20) 0.881 (Prev. -1.095)
What it means
The recent EIA report shows a significant increase in Cushing crude oil stocks, rising to 0.881 million barrels from a previous drop of -1.095 million. This shift suggests a potential oversupply in the market, which could weigh on WTI and Brent prices in forthcoming sessions, particularly against the backdrop of ongoing geopolitical factors that can disrupt supply.
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