US Energy Information Administration data due Wednesday: 2.8 mn bbl build expected

The private survey results were a huge surprise draw:

• Private survey of oil inventories shows a huge headline crude draw vs the build expected

Analysts are expecting a build in the official data:

The US Energy Information Administration (EIA) will release its weekly report on Wednesday at 10.30 am US Eastern time.

According to consensus estimates from a survey by The Wall Street Journal, analysts forecast the report will show

• an increase of 2.8 mn barrels in commercial crude oil stockpiles
• a fall of 1.8 mn barrels in gasoline inventories
• a decrease of 1.4 mn barrels in distillate stocks

This article was written by Eamonn Sheridan at www.forexlive.com.