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The EIA reported a 4.9 million barrel crude inventory build for the week to November 16, above the 2.9 million expected, marking a ninth straight weekly rise. Gasoline stocks fell 1.3 million barrels and refinery utilization rose to 92.7 percent.
A larger-than-expected crude build signals ample supply and pressures crude prices. Strong refinery runs and product draws support fuel prices, though the crude build dominates.
sweetcrudereports.comchuksNov 22, 2018After 171 past bearish report events, WTI moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
