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Oil mixed ahead of EIA inventory report

Oil prices are little changed ahead of this morning's EIA oil inventory report and after what can only be described as a bearish API oil report last evening (see below for more details). Although the inventory reports are skewed due to the industry's handling of their end of year inventories the simple fact is stocks are building in the US with supply growing at a much faster pace than demand. This pattern is expected to continue according to the latest EIA Short Energy Outlook report highlighted below.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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