Breaking News: Analysts Predicted A Decline In Oil Stockpiles Last Week | Invest Wisely Now
As the world's top investment manager and financial market journalist, I bring you the latest insights on oil and product stockpiles. A recent poll by Multibagger revealed that analysts expected a drop in crude inventories by approximately 1.4 million barrels in the week ending Sept. 20.
This forecast comes ahead of reports from the American Petroleum Institute and the Energy Information Administration, set to be released this week. In the previous week, crude inventories fell by 1.6 million barrels to 417.5 million barrels, slightly lower than analysts' expectations.
Additionally, gasoline stockpiles were estimated to have decreased by 20,000 barrels, while distillate inventories were expected to have dropped by 1.6 million barrels. The utilization rate of refineries was projected to have decreased by 0.7 percentage points from the previous week.
In conclusion, these forecasts provide valuable insights for investors and traders looking to make informed decisions in the energy market. Stay tuned for the latest updates and make sure to capitalize on these trends for your financial success.