A private survey of US crude oil inventories pointed to a headline build, running against trader expectations for a draw, ahead of official government data due Wednesday US time.
Traders had positioned for a drop in crude stockpiles, but the private survey instead showed a build, according to oilprice.com. The data comes ahead of official government inventory figures due Wednesday US time.
Going into the survey, expectations for the crude oil market centred on a headline crude draw of 0.6 million barrels, alongside a gasoline build of 0.2 million barrels and a distillate draw of 0.5 million barrels. Those figures reflect forecasts compiled ahead of the release, not confirmed government data.
Source: Investinglive (snippet-based)
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