US Weekly EIA Crude Oil Inventory Data Announcement: Market Expectations vs. Reality

Wednesday, 27 March 2024, 14:24
The US weekly EIA crude oil inventory data is anticipated to reveal a headline build of -1275K barrels, contrasting with yesterday's API stats. However, market sentiments suggest a more bearish outlook following the recent API data updates. Keep an eye on the upcoming release and its potential impact on WTI prices currently at $81.40.
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US Weekly EIA Crude Oil Inventory Data Announcement: Market Expectations vs. Reality

US Weekly EIA Crude Oil Inventory Data Announcement

The consensus on today's headline build is -1275K, but the market is likely priced for something more bearish after the API data late yesterday showed:

  • Crude +9337K
  • Gasoline -4437K
  • Distillates +531K

The data is due at the top of the hour and WTI is trading down 31-cents to $81.40.

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.

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