The latest data from the U.S. Energy Information Administration (EIA) reveals significant declines in various petroleum inventories. U.S. crude oil inventories fell by 2.508 million barrels, far exceeding the forecasted drop of 600,000 barrels and the previous decline of 1.362 million barrels. Gasoline inventories decreased by 235,000 barrels against an expected increase of 1 million barrels and a previous increase of 915,000 barrels. Distillate inventories also saw a reduction of 45,000 barrels, compared to the forecasted increase of 700,000 barrels and the previous increase of 560,000 barrels. Additionally, crude oil inventories at Cushing, Oklahoma, dropped by 341,000 barrels. The Strategic Petroleum Reserve (SPR) contributed to the overall decline with a decrease of 593,000 barrels.
US crude inventories fell by 1.915mb last week (commercial: -2.508mb, SPR: -0.593mb) EIA #oott
EIA inventory Oil -2,508k Bbl, Est. -600k Bbl Gasoline -235k vs est. +1,000k Distillates -45k vs est. +700k Cushing crude -341k
U.S CRUDE OIL INVENTORIES ACTUAL: -2508K VS -1362K PREVIOUS; EST -600K U.S CUSHING CRUDE OIL INVENTORIES ACTUAL: -341K VS 1880K PREVIOUS U.S GASOLINE INVENTORIES ACTUAL: -235K VS 915K PREVIOUS; EST 1000K U.S DISTILLATE INVENTORY ACTUAL: -45K VS 560K PREVIOUS; EST 700K
EIA Crude: -2.508M Cushing: -0.341M Gasoline: -0.235M Distillates: -0.045M
🔴 ⚠️ BREAKING: EIA CRUDE OIL INVENTORIES ACTUAL -2.508M (FORECAST -0.6M, PREVIOUS -1.362M) $MACRO
EIA DISTILLATE INVENTORIES ACTUAL -0.045M (FORECAST 0.7M, PREVIOUS 0.560M) $MACRO
EIA GASOLINE INVENTORIES ACTUAL -0.235M (FORECAST 1M, PREVIOUS 0.915M) $MACRO