Interpretation of macro data on July 10: U.S. domestic energy storage situation! Side data is not recommended for reading.
Bold assumptions, cautious analysis, welcome to Uncle Cat's encrypted "channel"
22:30 U.S. EIA crude oil inventory (10,000 barrels) for the week ending July 5, previous value -1215.7, expected -133.3, announced value -344.3,
Data show that as of the week of July 5, U.S. domestic crude oil inventories have rebounded, but not as expected. Last week's weekly data showed a short-term inventory reduction of -12.157 million barrels, which is the largest inventory fluctuation this year. Later, it was learned that a hurricane occurred in the U.S. mainland, which was a short-term crude oil shortage caused by seasonal factors, which would lead to a short-term increase in oil prices.
Current data shows that although the inventory reduction data is greater than expected, it is still a significant decrease compared to the previous value, indicating that the impact of seasonal hurricane factors on the crude oil market has weakened.
However, the short-term rise in crude oil prices may have a certain impact on the inflation data in July.
