What is the meaning of crude oil EIA
In general, the trend of crude oil prices and the dollar index trend, the same trend with precious metals.When crude oil inventories increased by [1], 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.
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 oil price, it will increase the strategic inventory of crude oil resources, thereby increasing the supply and demand contradiction led to rising oil prices. 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.
EIA crude oil inventories (excluding the Strategic Petroleum Reserve) data from the U.S. Energy Information Association (EIA) is the U.S. Department of energy's energy information administration released statistics. The data published once a week on Wednesday evening (winter time [10:30] 11:30) published, this data mainly shows the United States when the weekly crude oil inventory number for crude and refined products (gasoline, diesel, asphalt etc.) have great influence. Foreign exchange and precious metals market will have a certain impact, investors need to pay close attention to
