Each week, two major oil reports are released, the American Petroleum Institute (API) on Tuesday and the US Department of Energy EIA (Energy Information Administration) weekly petroleum status report on Wednesday mornings.
These findings are closely watched as they report fundamental facts from data collected the previous week.
Important data includes:
• Oil Inventory Increase or Decrease for the week
• Total Oil Inventory and comparison to previous year
• Crude Imports gallons per day
• Gasoline Inventory Increase of Decrease for the week
• Gasoline supply average for last four weeks compared to year ago
• Refinery capacity utilization
• Distillate inventory and supply average of last four weeks
Market watchers comb through the data to get a better feel for supply and demand pressures in the Oil market.
The question remains: Have these fundamentals been factored in or is it news to use?
The answer is often simply the degree that the data was different from expectations before the report’s release.
