API Reports 5.121 Mln Barrels Weekly Draw In Crude Stocks

Investing.com – US inventories fell 5.121 million barrels last week, the American Petroleum Institute said Wednesday, a greater drop than expected.

Gasoline inventories rose 1.782 million barrels and distillate stocks rose by 609,000 barrels. Supplies at the oil storage hub of Cushing, Oklahoma, fell by 3.936 million barrels.

US crude oil inventories were expected down 3.536 million barrels last week. Gasoline stocks were seen up 3.426 million barrels and distillate inventories up by 86,000 barrels.

Official data from the Energy Information Administration is due on Thursday, a day later than normal because of a public holiday on Monday.

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