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Oil turns negative ahead of US weekly oil inventory report
WTI crude oil is down 45-cents to $80.89 ahead of the EIA weekly oil inventory data at the bottom of the hour. Oil prices spike to $82.43 earlier after the API report showed a massive 15.4 million barrel draw.The consensus on the EIA data is:Crude -1367KGasoline -1300KDistillates +112KRefinery utilization 0% changeAPI data released late yesterday:Crude -15400KGasoline -1680KDistillates -512KIt's safe to say that the market is priced for larger draws than the 'consensus' but there's plenty going...
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Posted: Aug 2 2023, 13:58
Author Name: forexlive
Views: 080758