This number might trigger a global risk reduction if OIL consolidate in the lows 40s
Third party data: OIL Highlights
Crude oil inventories unexpectedly rose by 3.3 million barrels in the June 2 week to 513.2 million, 2.3 percent above the level a year ago. The weekly increase broke an eight-week long string of drawdowns and stunned the market, as analysts expected another sizeable drawdown of around 3.5 million barrels. Product inventories also rose quite sharply in the week, with gasoline up 3.3 million barrels to 240.3 million, 0.3 percent below last year at this time, while distillates rose 4.4 million barrels to 151.1 million, down 0.2 percent from the year ago level. WTI crude oil prices plunged about $1.70 to around $46.00 per barrel immediately following the release of the EIA report.
