Every week the US Energy Information Administration releases a report that indicates the change in the number of Crude OIL held in inventory by commercial firms during the previous week. Usually there will be an immediate effect on the Crude OIL WTI price, however, the effect might not last long.

Last week the OIL inventories rose to 3.4 Million Barrels which put pressure on OIL, pushing it lower than 100 USD a barrel. This week, analysts are expecting a drop in inventories.

The impact of the inventories report extends further to petroleum products. All by-oil products and products which directly depend on the OIL prices are affected directly and indirectly by the report. The effect extends even to the Canadian Dollar where Canada's large energy sector is directly affected by OIL prices. It has been noticed that higher OIL prices help strengthen the Loonie, while lower OIL prices usually weaken it.

OIL inventories are usually released every Wednesday at 14:30 GMT.