https://commodity20.com/wp-content/uploads/2011/12/c20-logo-final-e1593435101918.png 0 0 Commodity Expert https://commodity20.com/wp-content/uploads/2011/12/c20-logo-final-e1593435101918.png Commodity Expert2012-09-06 20:33:292012-09-06 20:36:40Crude Oil Inventory Data 06.09.12
DOE Crude Oil Data Update:
- Crude Oil: Actual: -7426 K Survey: -4950K, Prior: 3778K
- Gasoline: Actual: -2334K Survey: -3000, Prior: -1509K
- Distillate: Actual: 993 K Survey: -1550K, Prior: 873K
- Ref. utilization: Actual: -5.10 % Survey: -1.50%, prior: 0.00%
the surprising decline in crude oil inventory from 3778K to -7426K is noticeable which can create a push to oil prices.
However the Gasoline and Distillates inventory scenario suggest less demand of petroleum product is US which can create a negative impress on oil trend.
The above view can be deciphered by looking at the refinery utilization figures coming down to -5.10%.
Overall view from Commodity20 Research Team it continue to have a negative impact on crude oil price trend