Oil soft despite private inventory draw. EIA data up next

Weekly EIA oil inventory data is delayed until today because of the US long weekend.Indications are for a surpringly large draw after yesterday's API data:Crude -6490KGasoline -452KDistillates +2045KCushing -1706KThe consensus for the upcoming report:Crude -1950KGasoline -450KDistillates -150KWTI crude oil is trading down 58-cents to $78.69. On Sunday, we get the latest OPEC decision. This article was written by Adam Button at www.forexlive.com.

May 30, 2024 - 21:10
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Oil soft despite private inventory draw. EIA data up next

Weekly EIA oil inventory data is delayed until today because of the US long weekend.

Indications are for a surpringly large draw after yesterday's API data:

  • Crude -6490K
  • Gasoline -452K
  • Distillates +2045K
  • Cushing -1706K

The consensus for the upcoming report:

  • Crude -1950K
  • Gasoline -450K
  • Distillates -150K

WTI crude oil is trading down 58-cents to $78.69. On Sunday, we get the latest OPEC decision. This article was written by Adam Button at www.forexlive.com.

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