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The Energy Information Administration's (EIA) Cushing Crude Oil Stocks Change is one of the most important factors of WTI oil price changes. WTI benchmark is settled in Cushing (Oklahoma). Today, Cushing is one of the world's key trading hubs for crude oil. WTI futures imply delivery to Cushing.
The indicator is included in the weekly report of the Energy Information Administration of the US Department of Energy.
EIA includes this report into Weekly Petroleum Status Report (WPSR) along with other information on supplies, stocks and prices for crude oil and principal petroleum products. It is a reliable source of current information on the energy industry used by manufacturers, press, policy makers, consumers and analysts, as well as state and local authorities. The report data describe supply and disposition of crude oil and petroleum products in the United States and large US regions.
An increase in oil storage levels at Cushing indicates a decrease in demand for oil, and the oil price may fall globally. A decrease in Cushing stocks can have a positive effect on oil prices. However, this change in prices is of a short-term nature. A trend is only formed in the market if Cushing stocks increase or decrease steadily for several weeks in a row.
The chart of the entire available history of the "EIA United States Cushing Crude Oil Stocks Change" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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