TODAY’S “CRUDE OIL INVENTORY” DATE: 29-04-2015

Radhey Radhey!

Apr 29 14:30 GMT +5:30 1.333M Consensus 5.315M Previous

EIA Crude Oil Stock is a measure of change in crude oil storage and it’s released by the Energy Information Administration. This report indicates the oil demand and the price volatility. As the oil prices have an impact on worldwide economy, some volatility for the currencies, specially for the CAD is expected. We have to take into account that Canada is the world’s fourteenth largest producer of oil so a strong oil demand appreciates, or is bullish for the CAD. Despite it having a low impact among currencies, this report tends to affect the price of oil itself, and therefore had a more notorious impact – Chandan
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