Crude prices higher after the EIA oil inventory report

Posted by Futures - Stock Commodity Options & Forex Strategy

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The energy complex are trading higher after the EIA released its latest weekly oil inventory report. The data showed Total Crude & Product stocks decreased by 6.034/mmbls to 1390.917/mmbls for week ending Sept. 16. Looking at the year-on-year for Total Crude & Product stocks we see we are now 93.2/mmbls above last year’s level for this time of the year and above the five-year average by 242.9/mmbls.

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