United States API Weekly Crude Oil Stock up to 13.4M in February 6 from previous -11.1M

💡 DMK Insight

Crude oil stocks just surged to 13.4M, and here’s why that matters: This dramatic increase from the previous -11.1M signals a potential shift in supply dynamics that traders need to watch closely. A build in inventories often indicates weaker demand or oversupply, which could pressure prices downward in the short term. If you’re trading oil, keep an eye on the $70 resistance level; a failure to break above could lead to further declines. But don’t overlook the broader context—geopolitical tensions and OPEC+ decisions could still swing prices unexpectedly. If demand picks up or if there are production cuts, we could see a quick reversal. Watch for any news from OPEC meetings or major economic indicators that could affect demand forecasts. The next few weeks will be crucial, so stay nimble and ready to adjust your positions based on evolving supply-demand signals.