Macquarie Forecasts Significant Rise in US Crude Inventories

Macquarie strategists anticipate a substantial increase in U.S. crude oil inventories, projecting a rise of 6.5 million barrels for the week ending February 6. This forecast, if realized, would signal a significant build-up in stockpiles. Such an increase typically suggests either weaker demand or ample supply within the market. Consequently, a substantial rise in U.S. crude inventories is generally considered a bearish indicator for global crude oil prices. Traders will closely monitor official inventory data for confirmation, as this magnitude of increase could influence market sentiment and price movements for WTI and Brent crude.