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What is Crude Oil InventoryBack

The Inventory data is released by EIA (Energy Information Administration).

 

Crude oil Inventory is also called Crude oil Stocks, Crude oil Level.

 

Inventory is basically Change in the number of barrels of crude oil held in inventory by commercial firms during the past week.

 

It is Released Every week, 4 days after the week ends.

 

While this is a US indicator, it most affects the loonie due to Canada's sizable energy sector.

 

Crude oil trader should take care before trading on inventory day because It influences the price of petroleum products which affects inflation, but also impacts growth as many industries rely on oil to produce goods.

 

High Alert: Today is Crude oil inventory due: Forecast 4.2M against 10.1M Previous. Inventory forecast shows decline in stocks that may be because of rising demand and may support crude prices.

What is Crude Oil Inventory
 
 
 
Posted on: 28-Jan-2015 | Posted by: NIFM | Comment('0')
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