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Breaking Posted 3 hours ago

EIA Crude Oil Inventories Fall 6.088M; Beat Forecast

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EIA reported crude oil inventory drawdown of 6.088M barrels, exceeding the 3.6M forecast but smaller than the previous 8.263M decline. Larger-than-expected drawdown signals stronger oil demand, supporting USD and pressuring commodity-linked currencies like CAD and NOK, as higher energy prices typically strengthen the dollar.
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Latest Updates

3 hours ago

U.S. crude inventories fall 6.1 million barrels, drop below five-year average

U.S. crude inventories fell 6.1 million barrels for the week ending June 19, pushing commercial stockpiles to 412.1 million barrels—7% below the five-year average. This signals tightening supply conditions. USD typically strengthens on bullish oil data due to positive U.S. economic outlook; traders monitor crude draws as an inflation and energy-sector indicator affecting dollar positioning.

https://oilprice.com/Energy/Crude-Oil/US-Crude-Inventories-Post-Another-Major-Draw.html
3 hours ago

US crude oil stocks hit lowest level since October 1984

Total US crude oil inventories, including the Strategic Petroleum Reserve, fell last week to their lowest point since October 1984, according to EIA data. This supply tightness supports crude prices and may strengthen commodity-linked currencies like CAD and NOK, while benefiting energy exporters and potentially weighing on energy importers.

https://x.com/financialjuice/status/2069793464246566997
3 hours ago

US crude oil stocks ex-SPR fall to lowest since January 2025

US crude oil inventories excluding Strategic Petroleum Reserve fell last week to their lowest level since January 2025, per EIA data. This supply tightness supports oil prices and bolsters the US dollar through energy-related demand, benefiting USD pairs like USD/CAD and USD/JPY as higher oil underpins broad dollar strength.

https://x.com/financialjuice/status/2069792141786718352
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@asuquokelvin · 2 hours ago

Bigger oil draw than expected is supportive for crude, keeping energy markets firm for now.

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