EIA crude oil inventories take center stage on Wednesday

As traders approach another pivotal day for financial markets, Wednesday, August 28, 2024, brings a crucial economic data release that could sway market dynamics. The spotlight falls on the Energy Information Administration’s (EIA) Crude Oil Inventories report, which is expected to provide insights into U.S. oil demand and potentially impact crude prices and inflation trends.

Major Economic Events to Watch

• 10:30 AM ET – EIA Crude Oil Inventories: Weekly change in commercial barrels held by U.S. firms, previous -4.649M.

Other Important Economic Events to Watch

• 1:15 AM ET – Fed Waller Speaks: Federal Reserve Governor Christopher Waller’s public remarks on monetary policy.

• 10:30 AM ET – EIA Weekly Cushing Oil Inventories: Change in crude oil storage at Cushing, Oklahoma, previous -0.560M.

• 1:00 PM ET – 5-Year Note Auction: Treasury auction results indicating government borrowing costs, previous yield 4.121%.

• 6:00 PM ET – FOMC Member Bostic Speaks: Atlanta Fed President Raphael Bostic’s comments on economic outlook.

Other Economic Events to Watch

• 7:00 AM ET – MBA 30-Year Mortgage Rate: Fixed 30-year mortgage lending rates, previous 6.50%.

• 7:00 AM ET – MBA Mortgage Applications: Weekly change in new mortgage applications, previous -10.1%.

• 7:00 AM ET – MBA Purchase Index: Indicator of impending home sales, previous 130.6.

• 7:00 AM ET – Mortgage Market Index: Overall mortgage application activity, previous 225.8.

• 7:00 AM ET – Mortgage Refinance Index: Gauge of mortgage refinancing activity, previous 754.4.

• 10:30 AM ET – Gasoline Inventories: Change in commercial gasoline inventory, previous -1.606M.

• 10:30 AM ET – EIA Weekly Heatoil Stock: Change in inventory levels.

• 10:30 AM ET – EIA Weekly Crude Imports: Volume of crude oil imports, previous 0.078M.

• 10:30 AM ET – EIA Weekly Distillates Stocks: Inventory levels of distillates, previous -3.312M.

• 10:30 AM ET – EIA Refinery Crude Runs: Amount of crude processed by refineries, previous 0.222M.

• 10:30 AM ET – EIA Weekly Refinery Utilization Rates: Percentage of refinery capacity in use, previous 0.8%.

• 10:30 AM ET – EIA Weekly Gasoline Production: Volume of gasoline produced, previous 0.046M.

• 10:30 AM ET – EIA Weekly Distillate Fuel Production: Volume of distillate fuel produced, previous 0.123M.

For further information and the latest updates, please refer to our Economic Calendar, here

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.