Previous : -4.6 Million Barrel
Forecast : -

Definition : The Energy Information Administration (EIA) is the statistic arm of the US Department of Energy. The Weekly Petroleum Status Report is the most vital to crude markets; it is a summary released on a weekly basis on Wednesday including data on commercial Crude Inventories for the week prior to the release.

Why is it useful?Investors in commodities markets are the most who keep track of the weekly report and specifically crude market, and those trading on American Light Sweet Crude Oil contract. The change in US commercial Crude inventories is crucial as it is one of the major oil market movers.

The US is the world's largest oil consumer, and any change in their inventory levels account much of an effect of prices. Inventories withhold indirect relationship with prices, as if inventories rise they express sufficient supply thereby price fall and the opposite is applicable as well.
The summary on inventories that the report provides is important, while the major highlights to markets remains crude oil, motor gasoline, and distillates inventories, refineries capacity and imports into the US.

The effect is directly seen on crude markets were any change in inventory levels moves the market timely, while on equities the effect is not direct nor general, as we can see the effect of rising or falling crude prices on Energy sectors' shares and that is the limited effect the report has on the equities market and it is not considered to have a broad based effect on indices as other economic fundamentals.