NewsBreak: Crude Inventories Fell by 6.9M Barrels Last Week: EIA

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Investing.com – U.S. stockpiles fell by nearly 7 million barrels last week, according to government data out Wednesday, more than anticipated.

  • The (EIA) said oil inventories fell by 6.9 million barrels for the week ended Sept. 6. Analysts were expecting a drawdown of about 2.7 million, according to forecasts compiled by Investing.com.
  • futures rose 0.7% to $57.80 following the report, compared with about $57.60 just before numbers were released. rose about 1% to $62.98.
  • inventories slipped by 0.68 million, compared with expectations for a drop of about 0.85 million. Distillate stockpiles rose 2.7 million, compared with forecasts for a slight rise of 0.07 million.
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    Source: Investing.com