US commercial crude oil inventories rose by about 1.05 MMbbls (million barrels) for the week ending August 5, 2016—compared to the previous week. Inventories were at 523.60 MMbbls for the week ending August 5, 2016, according to data released by the EIA (U.S. Energy Information Administration) on August 10, 2016.In this series, we’ll analyze the impact of fundamental drivers such as the rig count, inventories, and the US Dollar Index on crude oil prices.
In the next part, we’ll see how rig counts are impacting oil prices.
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Thu, Jul 28, 2016OIIL: 28.46