US Crude Oil Inventories March 17, 2021


Junior member
Country of release - USA

What the data means to the market. The data indicates the number of crude oil barrels held by commercial firms in the US, this inventory is taken weekly and indicates increases or decreases needed in supply which then affects the price. A Positive number is bad for the oil price. There is other oil data released the night before this report, API Weekly Crude Oil Stock which the market looks for as an indicator to today’s report, which can also gauge how it will respond.

Historic Devitations and Their Outcome
Check out the move that API private report created last night! See charts here: -.

We can see last week’s report had a huge deviation of 12000 Barrels but also a huge conflict on Gasoline! I didn’t take this trade due to the conflict which was the right choice, as you can see the move was poor!
See Charts here: -;i=33030;t=2021-03-03;r=M1

Today’s Forecasts
DOE Crude Forecast = 2964
API Actual Crude = -1000
DOE Gasoline Forecast = -2996
API Actual Gasoline = -0900

Therefore I’ll use the forecast of
= 0 for Crude oil
= - 1000 for Gasoline

Today’s Trade Plan
Crude and Gasoline must deviate in the same direction, if Crude deviates by a minimum of 4000, then we can look to enter the market for some easy profit!
We know that the market watches the API oil report for clues as to the possible outcome of The Crude Oil Inventories report today. Yesterday’s API showed another conflict between Gasoline and Crude. Let's hope that's not what happens today, as we don't want to take any trade if there's a conflict.
Tradeable Pairs - US Oil, Crude, WTI
Trade with Slippage Control - Yes
Trade without Slippage Control - Yes
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