EIA Inventories and Potential for Crude Price Follow Through

From orbex.com

Later today, the EIA will disclose the latest crude inventory data from the US. What’s been pushing the market lately was the EIA’s monthly oil inventory report release. The contrast between their outlook and OPEC’s views could be causing some consternation among traders. Especially now that we are looking for lower fuel consumption in the US throughout autumn. Moreover, this is ahead of projections for lower demand from a forecast warmer winter. One of the aspects of the discussion about climate change’s impact on fuel demand is that milder winters could lower demand during a shorter cold season. Meanwhile, ... (full story)