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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

US oil inventories unexpectedly rose 1.5% over the week

May, 28 2020
watermark Economic news

According to the US Energy Information Administration (IEA), commercial oil reserves in the country for the week ending May 22 grew by 7.9 million barrels, or 1.5%, to 534.4 million barrels. Analysts had forecast a decline in stocks of 1.9 million barrels.


At the same time, gasoline inventories decreased by 0.7 million barrels, or 0.3%, to 255 million barrels. Forecasts suggested growth of 0.1 million barrels.


Distillate stocks over the same week increased by 5.5 million barrels, or 3.5%, to 164.3 million barrels. An increase of 1.8 million barrels was predicted.


The strategic oil reserve in the country increased compared to the previous week by 2.1 million barrels, or 0.3%, to 643.8 million barrels.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.