EIA Weekly Distillates Stocks A Build Of 1.534M Vs A Draw Of 2.753M Prior
Portfolio Pulse from Benzinga Newsdesk
The EIA reported a build of 1.534 million barrels in distillate stocks, compared to a previous draw of 2.753 million barrels.
July 31, 2024 | 2:30 pm
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The EIA reported a build of 1.534 million barrels in distillate stocks, which could indicate a potential decrease in demand or an increase in supply. This may negatively impact the United States Oil Fund (USO) in the short term.
A build in distillate stocks suggests either a decrease in demand or an increase in supply, both of which could lead to lower oil prices. This is likely to negatively impact the United States Oil Fund (USO) in the short term.
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