Private API oil inventory data to be released after the close

The API oil inventory data for the week of January 20, will be released to subscribers at around 4:30 PM ET today.

That data is a prelude to the EIA weekly inventory data tomorrow.

Recall, that the last two crude oil Crude Oil Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, Read this Term stocks had much higher than expected builds. Last week the build was 8.41M barrels and the prior week was 18.962M barrels (highest since March 3, 2021 week).

So what are the expectations for the data tomorrow?

• Crude stocks are expected to show another build but only about 1M barrels
• Gasoline stocks are expected to show a build of 1.76M barrels
• Distillates are expected to show a draw of -1.1M barrels.

Crude oil is trading at $80.14 currently. The high price reached $82.22. The low was at $79.66. The 100 day MA is up at $82.19.

The price of a gallon of regular gas in the US is $3.44 according to AAA. That is up from $3.09 a month ago, and up marginally from a year ago at $3.33. The high price over the last year was at $5.01 on June 14, 2022.

The price of WTI WTI WTI is the short-hand for West Texas Intermediate crude oil. WTI is a type of petroleum crude oil that serves as a benchmark in oil pricing. It is a light, sweet crude oil that is extracted from West Texas area in the United States, including the Permian Basin. WTI crude oil is considered to be a high-quality oil due to its low sulfur content and high yields of gasoline and diesel fuel when refined. It is used as a benchmark for pricing other types of crude oil, and the price of WTI crude o WTI is the short-hand for West Texas Intermediate crude oil. WTI is a type of petroleum crude oil that serves as a benchmark in oil pricing. It is a light, sweet crude oil that is extracted from West Texas area in the United States, including the Permian Basin. WTI crude oil is considered to be a high-quality oil due to its low sulfur content and high yields of gasoline and diesel fuel when refined. It is used as a benchmark for pricing other types of crude oil, and the price of WTI crude o Read this Term crude oil traded at $123.68 on that day and was a peak for crude, before its run to the downside that bottomed at $70.08 on December 9, 2022.