What is the meaning of EIA in crude oil investment
When crude oil inventories increased, indicating that excess supply of crude oil on the market, resulting in lower oil prices, the dollar rose, crude oil fell.When crude oil inventories decreased, indicating strong demand for crude oil on the market, leading to rising oil prices, the dollar fell, crude oil rose.
How does the EIA data affect the direction and the time of the release of crude oilPublished once a week, every Wednesday evening 11:30 (daylight time 10:30) announced.
What is the EIA dataThe full name of the EIA is the U.S. Energy Information Administration (EIA) when the week of crude oil inventories, it is by the U.S. Energy Information Association (EIA) through the past week, the company's crude oil inventories to carry out changes in the situation for reference and statistics. The market's attention as well as the impact of oil price movements, because commercial crude oil inventories increase, will affect the price of crude oil, and thus have an impact on the Canadian dollar, crude oil exports accounted for by Canadian economy than the major. The impact of changes in weekly crude oil inventories greater than the American Petroleum Institute (API data). Data include: when the week EIA crude oil inventories, when the week EIA refinery equipment utilization, when the week EIA refined oil stocks, when the week EIA gasoline stocks, as well as the next release of the week EIA natural gas inventory, etc.. When the week EIA crude oil stocks have a greater impact on international crude oil.
