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EIA Crude Oil Stocks Change

The EIA Crude Oil Stocks Change is a weekly report released by the U.S. Energy Information Administration that measures the change in the number of barrels of crude oil held in inventory by commercial firms. It is significant because it provides insights into supply and demand dynamics in the oil market, influencing oil prices and impacting inflation, energy costs, and economic growth. Financial markets closely watch this report as unexpected changes can lead to volatility in oil prices, affecting energy stocks and broader market indices.