"Surprising Dive in U.S. Crude Inventories Sends Oil Prices Lower"
TL;DR Summary
U.S. crude inventories experienced a significant draw of 4.210 million barrels, according to the American Petroleum Institute (API), surpassing analysts' expectations of a modest draw. Gasoline inventories rose by 3.946 million barrels, while distillate inventories increased by 349,000 barrels. Oil prices were trading higher ahead of the API data release, with Brent at $91.19 and WTI at $89.55. Cushing inventories rose by 705,000 barrels, leaving about 22 million barrels in Cushing.
Topics:business#api#distillate-inventories#energy#gasoline-inventories#oil-prices#us-crude-inventories
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