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Posted 2 hours ago
EIA crude inventories surge 17.4M versus -1.8M forecast
US crude oil inventories rose 17.422M barrels, vastly exceeding the -1.8M forecast and prior 2.479M build. This massive unexpected inventory build signals softer demand and oil oversupply, weighing on energy-linked currencies like CAD and commodity-correlated pairs, while supporting USD strength amid broader macro shift.
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2 hours ago
US crude inventories surge 17.4M barrels vs forecast decline
US crude oil inventories rose 17.4M barrels unexpectedly, crushing analyst expectations of a 1.1M decline and sharply reversing the prior 2.5M-barrel draw. The massive build signals weakening demand amid Fed rate-cut cycle, weighing on USD-denominated commodities and reinforcing dovish sentiment that underpins current currency weakness.
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