The weekly reported US Crude Oil Inventories have just been released with 422.1 million barrels. This represents an increase of 1.8 million barrels, with expectations of +3 million.
The Gasoline Inventories were reported at 241.7 million barrels, which represents an increase of 3.6 million barrels compared to the previous week – with expectations of +1.0 million.
API inventories released yesterday evening at 10:35 pm est were reported with +3.95 million barrels of crude oil, with expectations of +3 million. According to API, gasoline stocks rose by 4.63 million barrels, while distillates rose by 1.1 million barrels.
Oil production increases on a weekly basis by 20,000 barrels per day to 10.27 million barrels per day.
The oil price (WTI) reacts in the first few moments after the announcement with +0.65 dollars to 59.29 dollars.