Weekly EIA inventories crude oil 8.701M versus +1.160 million estimate | Forexlive
- Prior week +3.592 million
- Crude oil 8.701M versus +1.160 million estimate.
- Gasoline 0.749Mversus -0.150 million estimate. Prior week -1.540 million
- Distillates -1.018M versus -0.761 million. Prior week -1.422 million.
- Cushing +0.858M versus +1.925M last week
- refinery utilization +0.9% versus 0.9% expected and 0.9% prior
The private data last night showed a surprisingly large 9.1 million build in crude oil stocks. Below where there numbers for the other inventory data:
Private inventory data changes in the current week
The price of WTI crude oil was trading down at $74.20 prior to the release. OPEC+ postponing their schedule meeting for November 26 to November 30 has investors concerned about the ability to cut production quotas.
The current price is trading right around those levels at $74.20, down $-3.55 or -4.5%.