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US Crude Oil Storage Report

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@yokoyi - 1 month ago - Fundamental Analysis

The United States Energy Information Administration (EIA) releases this report every week to inform the public on how much crude oil is held in storage locations in the United States. I will be posting the report here once it is released, followed by a snapshot of how the market reacted to the storage report.

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@yokoyi - 1 month ago

The last EIA oil storage report was released on the 8th of July by 3:30 pm UTC + 1 and it came out bearish (hence the red font)

The report is considered bearish because the amount of oil in storage was forecasted to drop by 1.9 million barrels rather it increased by 2.9 million barrels. More oil in storage means demand is low and hence the price of oil could be expected to fall (all things being equal).

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@yokoyi - 1 month ago
Quoted - yokoyi

The last EIA oil storage report was released on the 8th of July by 3:30 pm UTC + 1 and it came out bearish (hence the red font)

The report is considered bearish because the amount of oil in storage was forecasted to drop by 1.9 million barrels rather it increased by 2.9 million barrels. More oil in storage means demand is low and hence the price of oil could be expected to fall (all things being equal).

This was the market's bearish reaction to the July 8 weekly crude oil storage data release. The drop in price wasn't instant but after about an hour the price started falling

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@yokoyi - 4 weeks ago

EIA US crude oil inventory for the week just came in bearish

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@yokoyi - 4 weeks ago
Quoted - yokoyi

EIA US crude oil inventory for the week just came in bearish

MARKET REACTION TO THE REPORT

Price actually fell, but for a short distance before reversing direction and rising

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@yokoyi - 3 weeks ago

US EIA weekly crude oil inventory just came in bearish

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@yokoyi - 3 weeks ago
Quoted - yokoyi

US EIA weekly crude oil inventory just came in bearish

This is how the market reacted to the bearish EIA crude oil inventory data/news release

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@yokoyi - 2 weeks ago

EIA weekly crude oil inventory data just came in bullish

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@yokoyi - 2 weeks ago
Quoted - yokoyi

EIA weekly crude oil inventory data just came in bullish

Market reaction to yesterdays crude oil inventory data

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@yokoyi - 1 week ago

EIA US weekly crude oil inventory came in bearish

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@yokoyi - 1 day ago
Quoted - yokoyi

EIA US weekly crude oil inventory came in bearish

Weekly US crude oil inventory came in bearish yesterday and this was how the market reacted to the data

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