US crude oil inventories only slightly down

The EIA has just released its weekly report on crude oil stocks. After the sharp decline in the last report (-7.99 million barrels), US crude oil inventories have fallen again. This time, however, the decline was much smaller, as crude oil stocks only decreased by 0.43 million barrels. The forecast was based on a decline of 2.8 million barrels.

Crude oil: -0.43 million barrels (expected: -2.8 million barrels)
Gasoline: +0.38 million barrels (expected: +0.6 million barrels)
Distillates: -1.73 million barrels (expected: -1.1 million barrels)

OIL.WTI rose today, climbing above $ 66.30 a barrel. However, according to data from the EIA, the market changed direction and oil prices fell by almost half a percent. That doesn’t change the fact that buyers are currently trying to regain control and climb back above $ 66.30. Should the upward momentum continue, the critical resistance could be found just below the $ 68 mark (highs from early March). Source: xStation 5