Monthly Archives: April 2022
Huge EIA Inventory Increase Fails to Soothe Oil Prices
Written on April 14, 2022 at 3:15 am, by lishitong
On Wednesday (GMT+3), the US Energy Information Administration reported an increase in 9.382 million barrels in its crude oil inventories. This is significantly higher than both the estimated increase of 863,000 barrels, and the previous number of 2.421 million barrels. An increase in inventories usually implies weaker demand and would be bearish for crude prices.Continue Reading