How exactly does the weekly inventory report from the EIA reach the markets?
Having examined the EIA website I can see that they seem to release a substantial set of weekly figures in the form of a spreadsheet or a csv file. Looks like they release it at a precise and particular time each week, yesterday for example it was at 16:00 in my time zone - GMT.
It would take some time - perhaps 30 seconds - to manually download and manipulate the file from the EIA website. But yet the oil price in the market tends to react instantly once the clock turns 16:00. So I'm wondering how that can be? And I'm thinking there must be some faster way of getting the EIA release figures rather than the manual way I described above.
So does anyone know what the faster way is? Are the key figures released somewhere else by the EIA such as Reuters or Bloomberg? I am trying to understand how the market can react so instantaneously to a set of figures that require 30 seconds of work before being actionable.
Having examined the EIA website I can see that they seem to release a substantial set of weekly figures in the form of a spreadsheet or a csv file. Looks like they release it at a precise and particular time each week, yesterday for example it was at 16:00 in my time zone - GMT.
It would take some time - perhaps 30 seconds - to manually download and manipulate the file from the EIA website. But yet the oil price in the market tends to react instantly once the clock turns 16:00. So I'm wondering how that can be? And I'm thinking there must be some faster way of getting the EIA release figures rather than the manual way I described above.
So does anyone know what the faster way is? Are the key figures released somewhere else by the EIA such as Reuters or Bloomberg? I am trying to understand how the market can react so instantaneously to a set of figures that require 30 seconds of work before being actionable.
EIA Weekly Data
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