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US crude inventories rose 7.1 million barrels in the week ended March 1, according to the EIA, to 452.9 million barrels. That level is about 4% above the five-year average.
Distillate stocks fell 2.4 million barrels and sit about 3% below the five-year average.
A larger-than-expected build in US crude stocks weighs on WTI prices and eases energy input cost pressure. The distillate draw is a partial offset for diesel prices.
ogj.comOGJ editorsMar 6, 2019After 171 past bearish report events, Crude Oil (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.
