Definition
The US government's energy statistics agency, part of the Department of Energy. It publishes the weekly count of US crude oil and gasoline stockpiles, usually Wednesdays at 9:30 AM CT (Central Time), plus monthly outlooks for oil, gasoline and natural gas prices.
The story
Oil traders watch the EIA's Wednesday report for whether US stockpiles grew or shrank. A bigger drop than expected is often read as demand outrunning supply; a bigger build, the opposite.
Why markets watch it
Oil prices feed into gasoline, shipping and inflation, so the EIA's numbers can ripple well beyond the oil market.
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