OIL - private inventory data shows 'much bigger than expected' build

Official data due Wednesday morning from the US, in the meantime this is from a private survey

  • Reuters polling showed analysts forecast that U.S. crude stockpiles rose 2.5 million barrels last week (5th straight weekly build)
  • ... results are showing a "much bigger than expected build" (i.e bigger than the 2.5mln barrels in that Reuters poll) ... build is more than 5 times what was expected in the poll

Gasoline inventory expected at a build of 1.1 million barrels

  • Actual comes in nearly 3 times large

Featured Videos