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EIA Petroleum Status Report
The EIA is the Energy Information Administration. Every week the EIA reports on the total petroleum inventories in the United States. This report is called the EIA Petroleum Status Report.
Petroleum inventories are an important factor in determining the price of petroleum based futures. Low inventories will naturally put a pressure on prices to rise and high inventories will cause prices to stabilize or fall.
Not only are the petroleum based products impacted by this supply/demand price dynamic but any industry that relies on moving goods and services around the country will have to pass on the gas costs to the consumer if the prices rise. This in turn will impact inflation.
Check the Economic Events Calendar to see if this or other announcements are taking place in the next 5 days.
Petroleum inventories are an important factor in determining the price of petroleum based futures. Low inventories will naturally put a pressure on prices to rise and high inventories will cause prices to stabilize or fall.
Not only are the petroleum based products impacted by this supply/demand price dynamic but any industry that relies on moving goods and services around the country will have to pass on the gas costs to the consumer if the prices rise. This in turn will impact inflation.
Check the Economic Events Calendar to see if this or other announcements are taking place in the next 5 days.
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