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Breaking Posted 3 hours ago

US crude inventories rise 3.0M barrels, stocks 6% below average

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US crude oil inventories unexpectedly increased by 3.0 million barrels in the week ending July 3, pushing commercial stockpiles to 411.4 million barrels—6% below the five-year average. This rare build contrasts with API's earlier report of a small draw and signals softer demand, potentially weighing on oil prices and supporting commodity-linked currencies like CAD and NOK against USD.
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@asuquokelvin · 3 hours ago

One week's inventory build doesn't mean there's too much oil, it usually means demand blinked first. The market cares more about where consumption is heading than how many barrels are sitting in storage.

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