In February, Europe's 16 nations saw their oil inventories decrease by 11 million barrels to 981 million barrels, with January's figures revised down by 2 million barrels. Breakdowns include crude unchanged at 417 million barrels, gasoline stocks falling by 4 million barrels to 102 million, middle distillate stocks dropping by 4 million barrels to 378 million, fuel oil by 1 million to 57 million, and naphtha by 2 million to 27 million. In the US, the American Petroleum Institute (API) reported decreases in Cushing stocks by 998,000 barrels, gasoline stocks by 3.750 million barrels, and distillate stocks by 1.162 million barrels, with crude oil stocks decreasing by 5.521 million barrels against an expected increase of 0.400 million barrels and a previous figure of 0.423 million barrels. Additionally, the Strategic Petroleum Reserve (SPR) saw an increase of 600,000 barrels.
U.S. API WEEKLY CRUDE OIL STOCK ACTUAL: -5.521M VS 0.423M PREVIOUS; EST 0.400M
🔴 US API DISTILLATE STOCK CHANGE ACTUAL -1.162M (FORECAST -, PREVIOUS -1.8M) $MACRO
🔴 US API GASOLINE STOCK CHANGE ACTUAL -3.750M (FORECAST -, PREVIOUS -2.8M) $MACRO
API Inventory Moves It's the one you've all been waiting for. Crude Oil -5.521 million (exp. +400,000) Gasoline -3.750 million Distillates -1.162 million Cushing -998,000 SPR +600,000 #oott #crudeoil
🔴 US API CUSHING STOCK CHANGE ACTUAL -0.998M (FORECAST -, PREVIOUS 0.5M) $MACRO
🇺🇸 United States API Weekly Crude Oil Stock $USD Actual: -5.521M 🔴 Expected: 0.400M Previous: 0.423M
Europe 16 nations oil inventories fell by 11mb m/m to 981mb in February (January revised down by 2mb) Crude unchanged at 417mb Gasoline -4mb 102mb Middle distillate -4mb to 378mb Fuel oil -1mb to 57mb Naphtha -2mb to 27mb Euroilstock #OOTT