As traders prepare for a crucial day in the financial markets, the focus on Wednesday, August 28, 2024, will be on the Energy Information Administration‘s (EIA) Crude Oil Inventories report. This important data release is anticipated to provide insights into U.S. oil demand and could influence crude oil prices and inflation trends.
Major Economic Event
10:30 AM ET – EIA Crude Oil Inventories: This report will show the weekly change in commercial crude oil barrels held by U.S. firms. The previous change was -4.649 million barrels.
Other Key Events
1:15 AM ET – Fed Waller Speaks: Federal Reserve Governor Christopher Waller will give public remarks on monetary policy.
10:30 AM ET – EIA Weekly Cushing Oil Inventories: This update will reveal the change in crude oil storage at Cushing, Oklahoma, with the previous change at -0.560 million barrels.
1:00 PM ET – 5-Year Note Auction: Results from this Treasury auction will indicate government borrowing costs. The previous yield was 4.121%.
6:00 PM ET – FOMC Member Bostic Speaks: Atlanta Fed President Raphael Bostic will discuss the economic outlook.
Additional Economic Data
7:00 AM ET – MBA 30-Year Mortgage Rate: Fixed 30-year mortgage lending rates, with the previous rate at 6.50%.
7:00 AM ET – MBA Mortgage Applications: Weekly change in new mortgage applications, with the previous change at -10.1%.
7:00 AM ET – MBA Purchase Index: This index reflects upcoming home sales, with the previous value at 130.6.
7:00 AM ET – Mortgage Market Index: An indicator of overall mortgage application activity, with the previous index at 225.8.
7:00 AM ET – Mortgage Refinance Index: This gauge measures mortgage refinancing activity, with the previous index at 754.4.
10:30 AM ET – Gasoline Inventories: Change in commercial gasoline inventory, with the previous change at -1.606 million barrels.
10:30 AM ET – EIA Weekly Heating Oil Stocks: Update on heating oil inventory levels.
10:30 AM ET – EIA Weekly Crude Imports: Volume of crude oil imports, with the previous figure at 0.078 million barrels.
10:30 AM ET – EIA Weekly Distillates Stocks: Inventory levels of distillates, with the previous change at -3.312 million barrels.
10:30 AM ET – EIA Refinery Crude Runs: Amount of crude processed by refineries, with the previous figure at 0.222 million barrels.
10:30 AM ET – EIA Weekly Refinery Utilization Rates: Percentage of refinery capacity in use, with the previous rate at 0.8%.
10:30 AM ET – EIA Weekly Gasoline Production: Volume of gasoline produced, with the previous figure at 0.046 million barrels.
10:30 AM ET – EIA Weekly Distillate Fuel Production: Volume of distillate fuel produced, with the previous figure at 0.123 million barrels.