RE:RE:RE:RE:RE:Oil Weird week. EIA updated its release date to Aug 7 but didn't update this weeks 10:30 am reports.
I guess we will have to wait until 1PM when they update the full report and see if they catch their own glitch.
In the meantime API data and the increasing war premium risk have WTI on the rise for a now.
GLTA
Quintessential1 wrote: Just waiting on EIA data to hopefully confirm the lower than expected inventory build shown by API data.
WTI crude oil futures rose to around $73.6 per barrel on Wednesday, erasing earlier losses and rising for the second straight session, underpinned by persistent supply-side concerns. Reports indicate that Hamas has appointed Yahya Sinwar as its new leader, raising concerns that this could provoke Israel and escalate tensions into a regional conflict, potentially threatening oil supply. Also, Libya’s largest oil field, Sharara, announced a reduction in production due to protests and security issues, adding to supply worries. Meanwhile, limiting the gains, API data showed that US crude oil inventories rose by 0.18 million barrels for the week ending August 2nd, marking the first increase in five weeks but falling short of market expectations of a 0.85 million barrel rise. Additionally, there are lingering fears about a potential recession in the US and weak demand from China.
https://tradingeconomics.com/commodity/crude-oil GLTY and all
Quintessential1 wrote: I have them with a 0.180M build on a forcasted 0.850M build so bullish. With 3 previously larger than expected draws I think this is about as good as can be expected.
https://ca.investing.com/economic-calendar/api-weekly-crude-stock-656 GLTY and all
downwithdotcom1 wrote: Usual newsfeeds don't have the API numbers out yet..what's the deal???