The U.S. Energy
Information Administration (EIA) revealed on Wednesday that crude inventories jumped
by 2.927 million barrels in the week ended October 4. Economists had forecast a
gain of 1.900 million barrels.
At the same time, gasoline stocks declined by 1.213 million barrels, while analysts had expected a drop of 0.900 million barrels. Distillate stocks reduced by 3.943 million barrels, while analysts had forecast a decrease of 2.000 million barrels.
Meanwhile, oil production in the U.S. climbed by 200,000 barrels a day to 12.600 million barrels a day.
U.S. crude oil imports averaged 6.2 million barrels per day last week, down by 67,000 barrels per day from the previous week.
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.
Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.
© 2000-2020. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.