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MajorAgendaWed, Oct 21 ET 10:30 AM1 min read
The Energy Information Administration, or EIA, measures how much US crude-oil inventories rose or fell over a week. It shows changes in the stored supply cushion, not directly oil production or fuel consumption. Escalating Hormuz shipping attacks and US crude above $100 a barrel make that cushion particularly important, although US inventories cannot establish how much supply the attacks have disrupted.[1]
Last release −8.557
A draw reduces the cushion and could support selling prices for oil producers whose operations and deliveries remain intact, while adding cost risk for fuel users. A build could ease buyers' pressure while removing some price support for producers. Check imports, exports and refinery activity: lower refinery processing can also build crude stocks. Airlines, freight operators and refiners depend on fuel prices, crude costs and hedging, so crude inventories alone cannot settle their profit outlook.[1]