Track US Crude Oil Inventories to gauge market supply-demand imbalances, impacting production and price volatility.
This is the key indicator for identifying supply and demand imbalances in the market, which can influence production levels and result in price volatility. Although it primarily serves as a US indicator, it has a significant impact on the Canadian dollar due to the country's large energy sector.
What it Measures
This measures the weekly change in the amount of crude oil stored in inventory by commercial firms.
Usual Effect
When the 'Actual' figure is lower than the 'Forecast', it is typically favorable for the currency.
Source & Frequency
Energy Information Administration (latest release) - https://www.eia.gov/ • Data is released weekly, four days after the end of the reporting week.
How Data is Derived
N/A
Also Known As
Crude Stocks, Crude Levels
Acronym
Energy Information Administration (EIA)