21 December 2022 | Other

According to the API, U.S. crude oil reserves decreased significantly last week

On Tuesday, the API reported that U.S. crude reserves fell more than expected. This will give bulls more opportunities to improve positions, despite the expectations of stormy snowstorms, which will limit transportation and cut demand.

Last week, the API reported a 7.8 million barrel increase in U.S. crude oil reserves. They decreased by 3.1 million barrels over the week.

Economists expected a decline at the level of 167,000 barrels.

Periods of new demand fluctuations cause large reserves deficits. A storm is expected in the Midwest later this week. The forecast says it will bring heavy snowfall and rain caused by snowstorms on Thursday and Friday. Such conditions will negatively affect transportation and energy demand.

On Wednesday, at 3:30 p.m. GMT, the official government report on oil inventories is expected. According to preliminary data, it will inform about a reduction in crude oil reserves of the U.S. by about 1.7 million barrels last week.

Company MarketCheese
Period: 29.10.2026 Expectation: 600 pips
EURUSD sell-off targets 1.1167
Today at 05:56 AM 1
Period: 07.11.2026 Expectation: 6750 pips
Selling USDCAD down to 1.35500
Yesterday at 09:05 AM 21
Period: 07.11.2026 Expectation: 3700 pips
Go long on natural gas with $3.37 target
Yesterday at 06:22 AM 16
Gold sell
Period: 14.10.2026 Expectation: 2100 pips
Go short on gold with $4,100 in view
Yesterday at 06:07 AM 17
Period: 06.11.2026 Expectation: 1650 pips
Invest in Brent crude up to $115
06 October 2026 39
Period: 20.10.2026 Expectation: 4500 pips
Buy Bitcoin with $90,000 in sight
06 October 2026 26
Go to forecasts