Weekly Crude Oil Inventories Report: Key Figures and Market Impact
Wednesday, 6 March 2024, 15:31
Weekly Crude Oil Inventories Report
Crude oil inventories built by 1.367 million barrels, higher than the estimated 2.116 million. Gasoline inventories witnessed a drawdown of -4.460 million compared to the estimated -1.640 million. Distillates inventories also declined by -4.131 million against the expected drawdown of -0.665 million.
Key Highlights:
- Crude oil build: 0.423 million
- Gasoline drawdown: -2.800 million
- Cushing build: 0.701 million
The rise in crude oil prices to $80, up by approximately $1.85 on the day, signals market optimism following the inventory report.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.