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The surprise inventory of raw materials sends the butter down



The US Petroleum Institute (API) reported a major surprise crude oil inventory of 6.55 million barrels for the week ending January 18, compared to analysts' expectation that we will see a small reduction in crude oil reserves 42,000 barrels.

API last week reported that they downloaded 560,000 barrels. A day later the EIA showed that stocks had withdrawn 2.7 M Barrels from the previous week.

In the early trading hours on Tuesday, today until the release of the API, crude oil prices recovered little of Monday's economic growth. slow down prices. But with the approach of the trading day, prices began to decline again as troubled traders gave up the slight increase in production in Russia in January, instead of the expected delay in their commitment to reduce production in the union with OPEC [1

6:59] EST On Tuesday, WTI traded down 0.41 dollars (-0.77%) a barrel at $ 52.60 a day's growth of less than $ 1 a barrel a week a week. Brent's gross turnover was $ 0.39 (-0.63%) to $ 61.11.

Inventories at the Cushing facility in Oklahoma this week have risen by 360,000 barrels.

API this week reported a large build-up of gasoline stocks and a week ending January 3, at 3.64 million barrels. Analysts predicted less than 2,655 million barrels a week

US crude oil production, according to the Energy Information Agency, showed that production for the week ending January 11 – the latest available information – has risen to 11.9 million barrels on the day's new record for the United States.

Distillate stocks also rose this week by 2.57 million barrels, compared with a smaller expected construction of 1.565 million barrels.

The report of the US Energy Information Agency on crude oil stocks is expected to be released on Thursday at 11:00 EST

By 16:34 EST, WTI traded at $ 52.61 and Brent traded at $ 61.11 .

By Julian Geiger for Oilprice.com

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