What is EIA crude oil inventory
In general, the trend of crude oil prices and the dollar index trend, the same trend with precious metals.When crude oil inventories increased, indicating that excess supply of crude oil on the market, resulting in oil prices fell, the dollar rose, gold fell.When crude oil inventories decreased, indicating strong demand for crude oil on the market, leading to rising oil prices, the dollar fell, gold rose.
The impact of EIA crude oil inventories on crude oil prices in the United states:Changes in crude oil inventories actually reflect the attitude of the U.S. government on oil prices. If the strategic crude oil inventories increased significantly, indicating that the U.S. government recognized the price of oil, it will increase the strategic inventory of crude oil resources to snatch, thus intensifying the contradiction between supply and demand led to rising oil prices, and vice versa. Therefore, the difference between EIA crude oil inventories and OPEC crude oil inventories for the dollar is that the impact of EIA on the dollar exchange rate is more direct, but also greater impact.
U.S. Energy Information Association (EIA) is the U.S. Department of energy under the energy information agency, is an official body, and now the market's traders and the international authority of the energy advisory bodies are using EIA inventory data. The data published once a week, every Wednesday evening when the winter time is 11:30 (DST 10:30) announced that the data will cause certain impact on currencies and precious metals market, investors need to pay close attention to.
This is Wednesday night half past ten, some EIA data, directly related to the short or long
