The EIA didn't publish its weekly oil inventory report last week and now says it won't publish it today, as hoped. The most-recent report was June 15.
Oil has been volatile today but is back in positive territory with WTI 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, and impact of politics stemming from OPEC. Short for the Organization of the Petroleum Exporting Countries, OPEC operates as an intergovernmental organization of 13 countries, helping set and dictate the global oil market.How to Trade Crude Oil Crude oil is most commonly traded as an exchange-traded fund (ETF) or through other instruments with exposure to it. This includes energy stocks, the USD/CAD, and other investing options. Crude oil itself is traded across a duality of markets, including the West Texas Intermediate Crude (WTI) and Brent crude. Brent is the more relied upon index in recent years, while WTI is more heavily traded across futures trading at the time of writing. Other than geopolitical events or decisions by OPEC, crude oil can move due to a variety of different ways. The most basic is through simple supply and demand, which is affected by global output. Increased industrial output, economic prosperity, and other factors all play a role in crude prices. By extension, recessions, lockdowns, or other stifling factors can also influence crude prices. For example, an oversupply or mitigated demand due to the aforementioned factors would result in lower crude prices. This is due to traders selling crude oil futures or other instruments. Should demand rise or production plateau, traders will bid increasingly on crude, whereby driving prices up.
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, and impact of politics stemming from OPEC. Short for the Organization of the Petroleum Exporting Countries, OPEC operates as an intergovernmental organization of 13 countries, helping set and dictate the global oil market.How to Trade Crude Oil Crude oil is most commonly traded as an exchange-traded fund (ETF) or through other instruments with exposure to it. This includes energy stocks, the USD/CAD, and other investing options. Crude oil itself is traded across a duality of markets, including the West Texas Intermediate Crude (WTI) and Brent crude. Brent is the more relied upon index in recent years, while WTI is more heavily traded across futures trading at the time of writing. Other than geopolitical events or decisions by OPEC, crude oil can move due to a variety of different ways. The most basic is through simple supply and demand, which is affected by global output. Increased industrial output, economic prosperity, and other factors all play a role in crude prices. By extension, recessions, lockdowns, or other stifling factors can also influence crude prices. For example, an oversupply or mitigated demand due to the aforementioned factors would result in lower crude prices. This is due to traders selling crude oil futures or other instruments. Should demand rise or production plateau, traders will bid increasingly on crude, whereby driving prices up.
Read this Term at $108.02 after a fall to $106.06.
Here's the statement:
The U.S. Energy Information Administration (EIA) is still in the process of system restoration, and as a result, we will not publish new data today, June 27, 2022. This delay includes the Gasoline and Diesel Fuel Update.
On Friday, June 17, we discovered a voltage irregularity, which caused hardware failures on two of our main processing servers. This issue prevented us from processing and releasing several reports last week, and unfortunately, it continues to affect our ability to release data this week.
We have replaced the affected hardware and are in the process of transferring data from our back-up systems to new servers. Once the data transfer is complete, we will perform quality checks to ensure data integrity before releasing any reports and associated data. We will continue to provide timely updates as we bring our systems back online and will share a schedule for our product releases as soon as possible.
Because we have been able to collect data throughout the outage and subsequent restoration, we will release the data that was scheduled for publication last week, including our U.S. average gasoline and diesel prices for June 20, 2022.
We apologize for the inconvenience of this delay, and we are doing everything we can to fully resume our data releases as quickly as possible. This statement was prepared by EIA, the statistical and analytical agency within the U.S. Department of Energy. By law, EIA’s data, analysis, and forecasts are independent of approval by any other officer or employee of the U.S. government. The views in this statement therefore should not be construed as representing those of the U.S. Department of Energy or other federal agencies.
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