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EIA inventory stats disappointed the market

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Oct 23, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    Oil traded back to the bottom of its recent range yesterday as the EIA inventory stats disappointed the market. Expecting 3.7m barrels and having seen the API come in with 7.1m the actual of +8m barrels was poor. Crude stocks are still 26% ahead of this time last year and 23% above average… Refinery utilisation rates fell again, down to 86.4% but it could have been worse as product stocks drew and the EIA in its report suggested that 3Q gasoline demand would be a healthy 9.3m b/d. The Opec

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