Crude oil inventory data - where to find?

chethan

I see traders discussing US crude oil inventory data every week. Where can I find this data for free and what time it is released? Does it really impact MCX crude prices significantly?

chethan

Reply by: EnergyMarket_Tracker
US EIA (Energy Information Administration) releases crude oil inventory data every Wednesday at 8:30pm IST. You can find it on their website eia.gov. Yes it impacts MCX crude significantly. If inventory increases more than expected, crude prices fall and vice versa. This is one of the most important weekly data points for crude traders.

chethan

Reply by: CrudeTrader_Pro
Also watch API (American Petroleum Institute) data which comes one day before EIA, on Tuesday night. Its not official but gives good indication. Many times prices move on API data itself and then EIA confirms. I suggest keep stop loss tight before these data releases because volatility spikes suddenly.