Inventories data

MGBRoadster

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Yesterday ForexFactory had a forecast for the EIA inventories data of 1.4 million barrels more than last week. DailyFX had +1.7 m. The actual figure was +6.2 million barrels.

If there is more oil in inventory than there was last week, and there is more oil than had been forecast I would expect the price of Crude to go down, but the price increased by about two dollars.

This happens quite frequently.

I'm missing something here :confused: Can someone let me know what it is?

Thanks,

Chris
 
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