Last week’s U.S. EIA refined oil inventory change (thousands of barrels) (as of 0807) fell short of expectations: -1 vs -129.6

U.S. EIA refined oil inventories fell by only 10,000 barrels last week, missing the expected drop of 1.296 million. The narrowing decline signals weakening demand support.

Last week, the U.S. EIA reported a change in refined oil inventories of -10,000 barrels, lower than the expected -1.296 million barrels, and down from the previous value of -3.473 million barrels. The narrowing decline in inventories indicates weakening demand support, which may ease the pressure of excess crude oil supply but has only a marginal impact on liquidity.