2018 Economic Calendar
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EIA Petroleum Status Report  
Released On 6/20/2018 10:30:00 AM For wk6/15, 2018
Crude oil inventories [weekly change]-4.1 M barrels-5.9 M barrels
Gasoline [weekly change]-2.3 M barrels3.3 M barrels
Distillates [weekly change]-2.1 M barrels2.7 M barrels

A big 5.9 million barrel draw in oil inventories isn't driving the price of West Texas Intermediate higher, at least not yet as it holds just under $66 in early reaction to petroluem data for the June 15 week. Offsets to the oil draw are sizable builds on the product side, up 3.3 million barrels for gasoline stocks and up 2.7 million for distillates.

The Energy Information Administration (EIA) provides weekly information on petroleum inventories in the U.S., whether produced here or abroad. The level of inventories helps determine prices for petroleum products.  Why Investors Care
As is evident from the chart, crude oil stocks can fluctuate dramatically over the year. When oil prices nearly reached $50 per barrel in August 2004, financial market players began to monitor crude oil inventories. It is not surprising to see sharp price hikes in crude oil when inventories are falling. Conversely, one would expect price declines when inventories are rising.
Data Source: Haver Analytics

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