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Worth notingAgendaWed, Nov 4 ET 9:30 AM1 min read
This Energy Information Administration, or EIA, reading measures the weekly change in US commercial crude oil inventories, not worldwide supply or gasoline stocks. The recent claimed attack on a Saudi refinery and oil's six-month high make available supply buffers more important. Inventories also depend on imports and refinery processing, so a decline does not necessarily mean demand increased.[1]
Last release −1.892
A draw leaves a smaller crude cushion. Alongside other evidence of tight supply, it could support revenue for producers able to deliver while increasing fuel-cost risk for airlines, freight carriers and cruise operators. A build could ease that pressure while reducing price support for producers. Refiners' benefit depends on fuel selling prices relative to crude costs. Check imports, refinery processing and the separately reported gasoline inventories; US crude stocks cannot confirm lost Saudi production.[1]