US Private Inventory Data (bbls): Crude +3.0mln (exp. +1.8mln), Distillate -0.03mln (exp. -0.2mln), Gasoline +6.2mln (exp. +2.5mln), Cushing +1.2mln

US Private Inventory Data (bbls): Crude +3.0mln (exp. +1.8mln), Distillate -0.03mln (exp. -0.2mln), Gasoline +6.2mln (exp. +2.5mln), Cushing +1.2mln.

The US private inventory data shows a larger-than-expected build in crude oil inventories, which could imply weaker demand signals. Additionally, significant gasoline inventory builds contrast with a slight draw in distillates, suggesting mixed supply dynamics. This release may weigh on oil prices in the short term as it indicates potential oversupply in a market already sensitive to demand fluctuations.