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%
Impact:
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

 

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