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The EIA (Energy Information Administration) Crude Oil Inventory report is a weekly report that shows the amount of crude oil held in inventory by commercial firms in the United States. It provides valuable insights into supply and demand dynamics in the oil market, as well as the overall health of the US economy.
The report is considered a leading indicator of oil price movements, as it reflects changes in the supply and demand balance of crude oil in the market. When inventory levels are high, it suggests that supply exceeds demand, which can lead to lower oil prices. Conversely, when inventory levels are low, it suggests that demand is outpacing supply, which can lead to higher oil prices. The EIA Crude Oil Inventory report is closely followed by traders, investors, and analysts in the energy and financial sectors, who use it to anticipate future movements in the price of crude oil and make investment decisions accordingly. It also provides valuable information to policymakers and industry leaders, who can use it to identify potential supply and demand imbalances and adjust their strategies accordingly.
ADP Employment Change NEXT:2-Oct-2024 |
Average Hourly Earnings NEXT:4-Oct-2024 |
Average Weekly Hours NEXT:4-Oct-2024 |
Budget Balance NEXT:10-Oct-2024 |
Building Permits NEXT:18-Sep-2024 |
Business Inventories / Sales Ratio NEXT:17-Sep-2024 |
Business Inventories m/m NEXT:17-Sep-2024 |
Business Inventories y/y NEXT:17-Sep-2024 |
Business Sales m/m NEXT:17-Sep-2024 |
Business Sales y/y NEXT:17-Sep-2024 |
Capacity Utilization Rate m/m NEXT:17-Sep-2024 |
Capital Account Balance NEXT:19-Sep-2024 |
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