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US Crude Oil Inventory Data: What to Expect

Robert Scott
US Crude Oil Inventory Data: What to Expect

In the week ending April 20, US crude oil inventories rose by ~2.17 MMbbls (million barrels) to ~429.7 MMbbls. However, the market expected a fall of 1.6 MMbbls in the EIA’s data on April 25. On the same day, US crude oil June futures rose 0.5%. Concerns about the US imposing sanctions on Iran could have helped oil ignore the bearish inventory data.