Crude inventory fell 2.2M barrels for week ended Oct. 11 - EIA (Commodity:CL1:COM)
Written by Emily J. Thompson, Senior Investment Analyst
Source: SeekingAlpha
Crude Inventory Changes: For the week ending October 11, commercial crude stocks decreased by 2.2 million barrels, totaling 804.4 million barrels, compared to a larger decrease of 5.8 million barrels the previous week.
Gasoline and Distillates Inventory: Gasoline inventories also fell by 2.2 million barrels, while distillates saw a decline of 3.5 million barrels, indicating ongoing reductions in fuel supplies.
Analyst Views on USO
Wall Street analysts forecast USO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for USO is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 71.820
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Current: 71.820
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
