SerpApi.Org
The American Petroleum Institute reportedly shows a surprise build of 2.6M barrels of oil in U.S. commercial stockpiles for the week ending July 17, breaking a streak of 13 consecutive weekly declines, including a 564K-barrel draw in the previous week.
Gasoline inventories reportedly show a draw of 1.38M barrels for the week, distillate inventories reportedly show a build of 1.76M barrels, and Cushing inventories reportedly show a draw of 737K barrels.
The Energy Information Administration is scheduled to release its weekly U.S. petroleum supply report on Wednesday; the average of analysts surveyed by The Wall Street Journal forecast domestic commercial crude stocks would decline by 1M barrels, gasoline inventories were expected to drop by 1.1M barrels, and distillate inventories were expected to rise by 100K barrels.
WTI front-month August crude oil (CL1:COM) recently traded at $84.44/bbl, below Tuesday's $84.91 settlement price.
ETF: (USO)
