US EIA Distillate Stocks Change (Jan/23) 0.329M vs. Exp. -0.55M (Prev. 3.348M)
The US EIA reported a rise in distillate stocks, increasing by 0.329 million barrels, contrasting with expectations of a decline of 0.55 million barrels.
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 Distillate Stocks Change (Jan/23) 0.329M vs. Exp. -0.55M (Prev. 3.348M)
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 unexpected build suggests stronger supply than anticipated, which could weigh on oil prices and impact broader inflation expectations.
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