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Figure Heloc 
Via oilprice.com:–Expectations I had seen centred on:Headline crude -0.6 mn barrelsDistillates -1.2 mn bblsGasoline -0.2 mn—This data point is from a privately-conducted survey by the American Petroleum Institute (API).It’s a survey of oil storage facilities and companiesThe official report is due Wednesday morning US time. Shut down permitting.The two reports are quite different.The official government data comes from the US Energy Information Administration (EIA)Its based on data from the Department of Energy and other government agenciesWhereas information on total crude oil storage levels and variations from the previous week’s levels are both provided by the API report, the EIA report also provides statistics on inputs and outputs from refineries, as well as other significant indicators of the status of the oil market, and storage levels for various grades of crude oil, such as light, medium, and heavy.the EIA report is held to be more accurate and comprehensive than the survey from the API
This article was written by Eamonn Sheridan at investinglive.com.
đź’ˇ DMK Insight
Oil inventory data is shifting, and here’s why traders should pay attention: The recent API report indicates a headline crude draw of 0.6 million barrels, alongside notable declines in distillates and gasoline. This could signal tightening supply, especially ahead of the official EIA report due Wednesday. For traders, this means potential volatility in oil prices, especially if the EIA confirms similar trends. If crude prices react to a larger-than-expected draw, we might see a bullish trend that could ripple through correlated assets like energy stocks or ETFs. Keep an eye on the $140 level for SOL; a breakout could coincide with rising oil prices, impacting broader market sentiment. However, it’s worth questioning whether this drawdown is a temporary blip or part of a longer-term trend. If demand remains weak, any bullish sentiment could quickly reverse. Watch for reactions from institutional players, as they often set the tone in energy markets. The immediate focus should be on the EIA report and how it aligns with API’s findings, as this will dictate short-term trading strategies.
đź“® Takeaway
Monitor the EIA report on Wednesday; a significant draw could push SOL above $140, impacting energy stocks and overall market sentiment.
