EIA Might Report More Bearish Inventory Data This Week

EIA Might Report More Bearish Inventory Data This Week

In the week ending on August 10, US crude oil inventories were 1% above their five-year average. Oil inventories were higher than their five-year average for the first time since March 9. The difference is called the “inventories spread.” In the weeks before August 10, US crude oil inventories were inching towards their five-year average.

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